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...
Rejection of refund claim - Status of the Subsidiary as a Distinct Person - Export of software development services - The High Court examined the provisions of Section 2(6) of the IGST Act, 2017 and the arguments presented by both parties. It concluded that the interpretation placed by the first respondent was incorrect. The Court affirmed that the petitioner and its subsidiary are distinct entities, fulfilling the requirements of Section 2(6)(v) of the Act. - Regarding the status of the subsidiary, the Court noted that Circular No.161/17/2021-GST clarifies that a company incorporated in India and a foreign company are separate legal entities under the CGST Act. Thus, the Court held that the subsidiary should not be considered merely an establishment of a distinct person under Explanation 1 of Section 8 of the IGST Act, 2017. - Accordingly, the High Court set aside the impugned order and directed the second respondent to process the refund claim along with applicable interest.
Rejection of refund claim - Status of the Subsidiary as a Distinct Person - Export of software development services - The High Court examined the provisions of Section 2(6) of the IGST Act, 2017 and the arguments presented by both parties. It concluded that the interpretation placed by the first respondent was incorrect. The Court affirmed that the petitioner and its subsidiary are distinct entities, fulfilling the requirements of Section 2(6)(v) of the Act. - Regarding the status of the subsidiary, the Court noted that Circular No.161/17/2021-GST clarifies that a company incorporated in India and a foreign company are separate legal entities under the CGST Act. Thus, the Court held that the subsidiary should not be considered merely an establishment of a distinct person under Explanation 1 of Section 8 of the IGST Act, 2017. - Accordingly, the High Court set aside the impugned order and directed the second respondent to process the refund claim along with applicable interest.
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