Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
The case involved a dispute regarding the refund of service tax paid under reverse charge mechanism under the erstwhile law. The issue was the applicability of Section 11B of the Central Excise Act, 1944 and Section 142(3) of the CGST Act, 2017. The tribunal held that Section 142(3) of the CGST Act, 2017 allows refund claims under the previous laws to be processed as per existing laws. The appellant's right to refund under the erstwhile legislation was upheld, citing a precedent that transitional credit is a vested right. The rejection of the refund claim was deemed legally invalid, and the impugned order was set aside with the appeal allowed.
The case involved a dispute regarding the refund of service tax paid under reverse charge mechanism under the erstwhile law. The issue was the applicability of Section 11B of the Central Excise Act, 1944 and Section 142(3) of the CGST Act, 2017. The tribunal held that Section 142(3) of the CGST Act, 2017 allows refund claims under the previous laws to be processed as per existing laws. The appellant's right to refund under the erstwhile legislation was upheld, citing a precedent that transitional credit is a vested right. The rejection of the refund claim was deemed legally invalid, and the impugned order was set aside with the appeal allowed.
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