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...
HC set aside the denial of input tax credit u/s 16(2)(c) and 16(4) of CGST/SGST Acts. The court directed reconsideration of petitioner's ITC claim in accordance with relevant circulars discussed in M. Trade Links case if factual circumstances are similar. The first respondent was instructed to pass fresh orders within two months from receipt of certified judgment copy. The decision established that blanket denial of ITC solely based on statutory provisions without considering applicable circulars and similar precedents is not sustainable. The matter was disposed of with specific directions for fresh assessment of the ITC claim.
HC set aside the denial of input tax credit u/s 16(2)(c) and 16(4) of CGST/SGST Acts. The court directed reconsideration of petitioner's ITC claim in accordance with relevant circulars discussed in M. Trade Links case if factual circumstances are similar. The first respondent was instructed to pass fresh orders within two months from receipt of certified judgment copy. The decision established that blanket denial of ITC solely based on statutory provisions without considering applicable circulars and similar precedents is not sustainable. The matter was disposed of with specific directions for fresh assessment of the ITC claim.
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