Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Refund in respect of unutilised Input Tax Credit (ITC) - time limitation - The appellate authority concluded that the refund claim can only be made with regard to a specific calendar month. This conclusion is contrary both to statutory prescription and Circular No.37. - the refund claim is within the time limit specified by statute that the petitioner is entitled to refund. - HC
Refund in respect of unutilised Input Tax Credit (ITC) - time limitation - The appellate authority concluded that the refund claim can only be made with regard to a specific calendar month. This conclusion is contrary both to statutory prescription and Circular No.37. - the refund claim is within the time limit specified by statute that the petitioner is entitled to refund. - HC
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