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 allowed petition challenging service tax penalties under CGST Act. Penalties pertained to period before CGST implementation when services were exempt under Finance Act 1994. Court relied on precedent from Kanak Automobiles case where tax amount was Rs. 86 lakh compared to present case's Rs. 6,33,879. Distinguishing quantum while following ratio from SC judgment, court found penalties inapplicable since services were exempt during relevant period and CGST provisions could not be applied retrospectively.
HC allowed petition challenging service tax penalties under CGST Act. Penalties pertained to period before CGST implementation when services were exempt under Finance Act 1994. Court relied on precedent from Kanak Automobiles case where tax amount was Rs. 86 lakh compared to present case's Rs. 6,33,879. Distinguishing quantum while following ratio from SC judgment, court found penalties inapplicable since services were exempt during relevant period and CGST provisions could not be applied retrospectively.
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