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...
Doctrine of promissory estoppel - Benefit under incentive Scheme - Scenarios of new Acts replacing the VAT Act, ensuring entitlement despite the GST regime. - The High court found that the petitioner fulfilled conditions of the scheme and was entitled to benefits. Past disbursements under the scheme, including GST components, supported this entitlement. The respondent's refusal to disburse the rest of the amount was unjustified. - Clause 19.2 of the scheme was interpreted to cover scenarios where the VAT Act is replaced by any other Act, ensuring continued entitlement despite changes in taxation regimes. The court rejected the respondent's argument that the GST Act replaced multiple statutes, holding that only the VAT Act was specifically mentioned in Clause 19.2.
Doctrine of promissory estoppel - Benefit under incentive Scheme - Scenarios of new Acts replacing the VAT Act, ensuring entitlement despite the GST regime. - The High court found that the petitioner fulfilled conditions of the scheme and was entitled to benefits. Past disbursements under the scheme, including GST components, supported this entitlement. The respondent's refusal to disburse the rest of the amount was unjustified. - Clause 19.2 of the scheme was interpreted to cover scenarios where the VAT Act is replaced by any other Act, ensuring continued entitlement despite changes in taxation regimes. The court rejected the respondent's argument that the GST Act replaced multiple statutes, holding that only the VAT Act was specifically mentioned in Clause 19.2.
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