Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
Clause (ii) of Condition No. 6 in the exemption notification, requiring exports to be backed by an irrevocable letter of credit opened before 25.08.2023, was held inapplicable where no letter of credit existed, since export through LoC is not statutorily mandatory and the condition presupposes an LoC-based transaction. Reading clauses (i) and (ii) conjunctively merely due to the word "and" was rejected; conditions must be construed contextually to avoid absurdity, and procedural requirements cannot defeat substantive entitlement where the notification's protective object is met. As the exporter satisfied clause (i) and realised export proceeds through recognised modes, exemption was granted and refund with interest was ordered within eight weeks - HC
Clause (ii) of Condition No. 6 in the exemption notification, requiring exports to be backed by an irrevocable letter of credit opened before 25.08.2023, was held inapplicable where no letter of credit existed, since export through LoC is not statutorily mandatory and the condition presupposes an LoC-based transaction. Reading clauses (i) and (ii) conjunctively merely due to the word "and" was rejected; conditions must be construed contextually to avoid absurdity, and procedural requirements cannot defeat substantive entitlement where the notification's protective object is met. As the exporter satisfied clause (i) and realised export proceeds through recognised modes, exemption was granted and refund with interest was ordered within eight weeks - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
