Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
HC allowed the petition challenging the adjudication order related to input tax credit under CGST/WBGST Act. The court set aside the existing order and directed the adjudicating authority to re-adjudicate the show-cause notice, taking into consideration the newly inserted sub-section (5) of Section 16, which was effective from 1st July, 2017. The decision follows the precedent established by Jharkhand HC and aligns with the Central Board of Indirect Taxes and Customs Notification No.22/2024, providing a special procedure for rectification of orders involving input tax credit contraventions.
HC allowed the petition challenging the adjudication order related to input tax credit under CGST/WBGST Act. The court set aside the existing order and directed the adjudicating authority to re-adjudicate the show-cause notice, taking into consideration the newly inserted sub-section (5) of Section 16, which was effective from 1st July, 2017. The decision follows the precedent established by Jharkhand HC and aligns with the Central Board of Indirect Taxes and Customs Notification No.22/2024, providing a special procedure for rectification of orders involving input tax credit contraventions.
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