Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Rule 96(10) of the CGST Rules restricted IGST refunds on exports in specified circumstances. The High Court's earlier ruling in M/s Hikal Limited treated the rule as ultra vires section 16 of the IGST Act and manifestly arbitrary. Its subsequent omission without a saving clause meant that proceedings based exclusively on an alleged breach of Rule 96(10) could not continue. Accordingly, a show cause notice seeking to deny or recover an IGST export refund under that rule, along with consequential proceedings, was quashed.
Rule 96(10) of the CGST Rules restricted IGST refunds on exports in specified circumstances. The High Court's earlier ruling in M/s Hikal Limited treated the rule as ultra vires section 16 of the IGST Act and manifestly arbitrary. Its subsequent omission without a saving clause meant that proceedings based exclusively on an alleged breach of Rule 96(10) could not continue. Accordingly, a show cause notice seeking to deny or recover an IGST export refund under that rule, along with consequential proceedings, was quashed.
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