Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
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The High Court dismissed the petition challenging the show-cause notice dated 20.08.2024 issued by the respondent authority in relation to the refund of integrated taxes for the period FY 2018-19 to 2020-21. The court held that Rule 86(4B) of the CGST Rules, introduced vide Notification No. 14/2022-Central Tax dated 05.07.2022, allows recredit of input tax credit pertaining to the amount paid back for contravention of Rule 96 of the CGST Rules. The respondent authority initiated an independent investigation against the petitioner regarding the refund of integrated tax for the period in question, issuing the first show-cause notice on 03.04.2024. The court observed that there is a separate period of limitation of three years from the date of erroneous refund, and the Special Intelligence and Investigation Branch had started an investigation against the petitioner for the FY 2017-18 to 2020-2021 before issuing the show-cause notice after scrutinizing all documents. Therefore, the court found no reason to interfere with the impugned show-cause notice.
The High Court dismissed the petition challenging the show-cause notice dated 20.08.2024 issued by the respondent authority in relation to the refund of integrated taxes for the period FY 2018-19 to 2020-21. The court held that Rule 86(4B) of the CGST Rules, introduced vide Notification No. 14/2022-Central Tax dated 05.07.2022, allows recredit of input tax credit pertaining to the amount paid back for contravention of Rule 96 of the CGST Rules. The respondent authority initiated an independent investigation against the petitioner regarding the refund of integrated tax for the period in question, issuing the first show-cause notice on 03.04.2024. The court observed that there is a separate period of limitation of three years from the date of erroneous refund, and the Special Intelligence and Investigation Branch had started an investigation against the petitioner for the FY 2017-18 to 2020-2021 before issuing the show-cause notice after scrutinizing all documents. Therefore, the court found no reason to interfere with the impugned show-cause notice.
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