Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Whether the 01.02.2019 amendment curtailing the time for refund applications could retrospectively extinguish accrued entitlement to refund of accumulated ITC under an inverted duty structure was determined by applying the presumption against retrospectivity to substantive curtailment of vested rights; absent express retrospective operation, the unamended "relevant date" continued to govern periods prior to the amendment, and the refund claims were not time-barred, including for July 2017-December 2018 (also within extended time under a notification) and January-March 2019 under Section 54. The rejection for January-March 2019 for alleged non-receipt of eligible inputs was found unreasoned. The impugned order was set aside and the matter remanded for fresh determination. - HC
Whether the 01.02.2019 amendment curtailing the time for refund applications could retrospectively extinguish accrued entitlement to refund of accumulated ITC under an inverted duty structure was determined by applying the presumption against retrospectivity to substantive curtailment of vested rights; absent express retrospective operation, the unamended "relevant date" continued to govern periods prior to the amendment, and the refund claims were not time-barred, including for July 2017-December 2018 (also within extended time under a notification) and January-March 2019 under Section 54. The rejection for January-March 2019 for alleged non-receipt of eligible inputs was found unreasoned. The impugned order was set aside and the matter remanded for fresh determination. - HC
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