Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Appellants duly followed procedure and conditions for CENVAT credit under CENVAT Credit Rules, 2004 and filed revised returns. Section 142(9)(b) of CGST Act, 2017 provides transitional arrangement for refund of unutilized CENVAT credit as non-obstante clause overriding contrary provisions except Section 11B(2) of Central Excise Act, 1944 regarding unjust enrichment. On repeal of Central Excise Act and supersession of CENVAT Credit Rules, Section 142 is sufficient for sanction of cash refund of excess CENVAT credit while transitioning to GST regime without need for specific CENVAT statute provision. Coordinate Bench precedents upheld permissibility of such cash refund. Impugned order denying refund set aside as unsustainable in law.
Appellants duly followed procedure and conditions for CENVAT credit under CENVAT Credit Rules, 2004 and filed revised returns. Section 142(9)(b) of CGST Act, 2017 provides transitional arrangement for refund of unutilized CENVAT credit as non-obstante clause overriding contrary provisions except Section 11B(2) of Central Excise Act, 1944 regarding unjust enrichment. On repeal of Central Excise Act and supersession of CENVAT Credit Rules, Section 142 is sufficient for sanction of cash refund of excess CENVAT credit while transitioning to GST regime without need for specific CENVAT statute provision. Coordinate Bench precedents upheld permissibility of such cash refund. Impugned order denying refund set aside as unsustainable in law.
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