Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
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IGST refund on exports could not be rejected merely because the exporter had claimed the higher duty drawback rate under Circular No. 37/2018, since that circular had already been held invalid as inconsistent with the statutory provisions and refund rules. Relying on the earlier High Court rulings, the Court set aside the rejection founded solely on that circular and remitted the refund claim for fresh consideration in accordance with law after giving the exporter an opportunity of hearing.
IGST refund on exports could not be rejected merely because the exporter had claimed the higher duty drawback rate under Circular No. 37/2018, since that circular had already been held invalid as inconsistent with the statutory provisions and refund rules. Relying on the earlier High Court rulings, the Court set aside the rejection founded solely on that circular and remitted the refund claim for fresh consideration in accordance with law after giving the exporter an opportunity of hearing.
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