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...
Rectification of mistake u/s 154 - tax paid on more than one occasion, and claims its refund u/s 154 - The High Court referred to Article 265 of the Constitution of India, which states that taxes cannot be levied or collected except by authority of law. They analyzed previous court judgments and concluded that both errors of fact and errors of law can constitute 'error apparent on the face of record'. The key criterion is that the error should be clear, obvious, and not require elaborate arguments to establish. Since this error was apparent from the records, the Court concluded that it fell within the scope of Section 154.
Rectification of mistake u/s 154 - tax paid on more than one occasion, and claims its refund u/s 154 - The High Court referred to Article 265 of the Constitution of India, which states that taxes cannot be levied or collected except by authority of law. They analyzed previous court judgments and concluded that both errors of fact and errors of law can constitute 'error apparent on the face of record'. The key criterion is that the error should be clear, obvious, and not require elaborate arguments to establish. Since this error was apparent from the records, the Court concluded that it fell within the scope of Section 154.
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