Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
In a case before the High Court, the issue was whether de-oiled items used as animal-food, cattle-food, poultry-food, and fish-food are exempt goods. The Doctrine of Ejusdem generis was not considered. The revisionist argued that paddy husk is not covered by the relevant entry and is not exempt. The Court held that the question was already answered by the Supreme Court in a previous case where it was established that certain by-products, including de-oiled items, are exempt under the VAT Act. Since the legal issue was settled u/s the Supreme Court decision, the revision was dismissed at the admission stage.
In a case before the High Court, the issue was whether de-oiled items used as animal-food, cattle-food, poultry-food, and fish-food are exempt goods. The Doctrine of Ejusdem generis was not considered. The revisionist argued that paddy husk is not covered by the relevant entry and is not exempt. The Court held that the question was already answered by the Supreme Court in a previous case where it was established that certain by-products, including de-oiled items, are exempt under the VAT Act. Since the legal issue was settled u/s the Supreme Court decision, the revision was dismissed at the admission stage.
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