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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The High Court held that the Appellate Tribunal under the CGST Act, read together (Sections 111-113), is bound by the CPC procedure, guided by principles of natural justice and has power to regulate its procedure; it also possesses civil court powers and may enforce orders as decrees. The Tribunal's jurisdiction to pass substantive orders necessarily includes inherent and incidental authority to grant interim relief, including stay of recovery pending appeal, to make the appellate remedy effective. The petitioner was directed to move the Tribunal within two weeks; limited interim protection was granted restraining action on the recovery notice until the Tribunal decides any interim application.
The High Court held that the Appellate Tribunal under the CGST Act, read together (Sections 111-113), is bound by the CPC procedure, guided by principles of natural justice and has power to regulate its procedure; it also possesses civil court powers and may enforce orders as decrees. The Tribunal's jurisdiction to pass substantive orders necessarily includes inherent and incidental authority to grant interim relief, including stay of recovery pending appeal, to make the appellate remedy effective. The petitioner was directed to move the Tribunal within two weeks; limited interim protection was granted restraining action on the recovery notice until the Tribunal decides any interim application.
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