Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The High Court held that the provisions of GST enactments being applicable pan India, the department cannot take a contrary stand to the Supreme Court's ratio in Kusum Ingots & Alloys Ltd. versus Union of India. Therefore, the impugned order denying the benefit of refund on account of the Inverted Duty Structure to the petitioner is unsustainable. The impugned order was set aside, and the case was remitted back to the respondent to pass a fresh order sanctioning the refund to the petitioner within three months, in light of the mentioned orders. The petition was allowed by way of remand.
The High Court held that the provisions of GST enactments being applicable pan India, the department cannot take a contrary stand to the Supreme Court's ratio in Kusum Ingots & Alloys Ltd. versus Union of India. Therefore, the impugned order denying the benefit of refund on account of the Inverted Duty Structure to the petitioner is unsustainable. The impugned order was set aside, and the case was remitted back to the respondent to pass a fresh order sanctioning the refund to the petitioner within three months, in light of the mentioned orders. The petition was allowed by way of remand.
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