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...
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The HC allowed the petitioner's writ and directed the respondent to refund the wrongly retained tax together with interest under s.243 until payment, holding that the respondent lacked statutory authority to set off or retain the amount because it failed to demonstrate any tax liability due from the petitioner. The court emphasized that recovery of tax requires a specific charging provision and rejected reliance on prior authorities as inapplicable to the distinct cause of action. Consequential relief in the form of interest was granted and the respondent was ordered to complete the refund process within ten weeks from communication of the order.
The HC allowed the petitioner's writ and directed the respondent to refund the wrongly retained tax together with interest under s.243 until payment, holding that the respondent lacked statutory authority to set off or retain the amount because it failed to demonstrate any tax liability due from the petitioner. The court emphasized that recovery of tax requires a specific charging provision and rejected reliance on prior authorities as inapplicable to the distinct cause of action. Consequential relief in the form of interest was granted and the respondent was ordered to complete the refund process within ten weeks from communication of the order.
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