Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
The High Court held that the Adjudicating Authority under the Foreign Trade (FT) Act lacks jurisdiction to adjudicate a claim for payment of interest on an amount utilized by the petitioner, to which they were not legally entitled. The Court observed that the FT Act only allows for imposition of penalties or confiscation, but does not provide for adjudication of interest claims. The interest claim must be enforced before a competent forum. The Court restrained the respondents from putting the petitioner's Importer-Exporter Code on the Denied Entity List and directed its removal if already done. The petition was allowed.
The High Court held that the Adjudicating Authority under the Foreign Trade (FT) Act lacks jurisdiction to adjudicate a claim for payment of interest on an amount utilized by the petitioner, to which they were not legally entitled. The Court observed that the FT Act only allows for imposition of penalties or confiscation, but does not provide for adjudication of interest claims. The interest claim must be enforced before a competent forum. The Court restrained the respondents from putting the petitioner's Importer-Exporter Code on the Denied Entity List and directed its removal if already done. The petition was allowed.
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