Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
The HC adjudicated a dispute concerning GST rate changes and contractual variation clauses. The court found that the Arbitral Tribunal misinterpreted contractual provisions regarding Input Tax Credit (ITC) and statutory variation clauses. The arbitral award was set aside due to misapplication of contract terms, disregard of GST regime principles, and failure to provide reasoned justification. The HC held that the employer was contractually obligated to reimburse the full GST amount, particularly given the unexpected GST rate increase from 5% to 12%. The court emphasized that state instrumentalities cannot adopt arbitrary approaches in contract interpretation. Consequently, the petition was allowed, and the impugned arbitral award was set aside.
The HC adjudicated a dispute concerning GST rate changes and contractual variation clauses. The court found that the Arbitral Tribunal misinterpreted contractual provisions regarding Input Tax Credit (ITC) and statutory variation clauses. The arbitral award was set aside due to misapplication of contract terms, disregard of GST regime principles, and failure to provide reasoned justification. The HC held that the employer was contractually obligated to reimburse the full GST amount, particularly given the unexpected GST rate increase from 5% to 12%. The court emphasized that state instrumentalities cannot adopt arbitrary approaches in contract interpretation. Consequently, the petition was allowed, and the impugned arbitral award was set aside.
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