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...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The HC disposed the petition and directed the Respondent to expeditiously adjudicate the Petitioner's IGST refund applications. The court held that refunds must be processed strictly in accordance with the statutory scheme and timelines; where the Department failed to issue a deficiency memo within the prescribed period, the Petitioner is entitled to interest for the resultant delay. Simultaneously, the court noted the Petitioner's own inordinate delay in responding to the deficiency memo and required the Respondent to account for that delay when quantifying interest. The HC ordered prompt final decision on the refund claims consistent with the Act and Rules.
The HC disposed the petition and directed the Respondent to expeditiously adjudicate the Petitioner's IGST refund applications. The court held that refunds must be processed strictly in accordance with the statutory scheme and timelines; where the Department failed to issue a deficiency memo within the prescribed period, the Petitioner is entitled to interest for the resultant delay. Simultaneously, the court noted the Petitioner's own inordinate delay in responding to the deficiency memo and required the Respondent to account for that delay when quantifying interest. The HC ordered prompt final decision on the refund claims consistent with the Act and Rules.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
