Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC allowed the petition and directed the respondents to refund to the petitioner the 70% pre-deposit of Rs. 16,11,19,226/- paid through ITC/ECL, together with interest for delayed payment, within six weeks. The court held that respondents, having consciously accepted the 70% deposit via ITC/ECL without objection, are estopped from refusing cash refund; Section 142(7)(b) and 142(8)(b) of the KGST Act mandate cash refunds irrespective of mode of initial deposit. The court rejected reliance on the impugned Circular and on Rule 92(1A) to deny cash reimbursement, and affirmed that statutory entitlement to refund carries an attendant right to interest for undue retention.
The HC allowed the petition and directed the respondents to refund to the petitioner the 70% pre-deposit of Rs. 16,11,19,226/- paid through ITC/ECL, together with interest for delayed payment, within six weeks. The court held that respondents, having consciously accepted the 70% deposit via ITC/ECL without objection, are estopped from refusing cash refund; Section 142(7)(b) and 142(8)(b) of the KGST Act mandate cash refunds irrespective of mode of initial deposit. The court rejected reliance on the impugned Circular and on Rule 92(1A) to deny cash reimbursement, and affirmed that statutory entitlement to refund carries an attendant right to interest for undue retention.
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