Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
IGST refund on exports could not be denied merely because the exporter had taken higher duty drawback, since the rejection rested on Circular No. 37/2018-Cus, which had already been found inconsistent with the governing rules. The HC held that an executive circular cannot override statutory provisions or binding precedent, and the claim had to be examined under the applicable rules rather than the circular. The rejection order was set aside, and the matter was remanded for fresh consideration after granting the exporter a reasonable hearing.
IGST refund on exports could not be denied merely because the exporter had taken higher duty drawback, since the rejection rested on Circular No. 37/2018-Cus, which had already been found inconsistent with the governing rules. The HC held that an executive circular cannot override statutory provisions or binding precedent, and the claim had to be examined under the applicable rules rather than the circular. The rejection order was set aside, and the matter was remanded for fresh consideration after granting the exporter a reasonable hearing.
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