Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
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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