Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
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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