International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
The Settlement Act is a self-contained code prescribing conditions, methodology and consequences of settlement and does not permit designated authorities to import MVAT Section 50 adjustment powers when determining settlement dues; refunds are not treated as payments in respect of statutory orders and arrears are computed year-wise, so adjusting a 2007-08 refund against a 2008-09 settlement is barred and defeats the scheme. Further, the designated authority must afford a reasonable opportunity to be heard as required by Section 13 provisions and principles of natural justice; the impugned adjustment order was set aside and the refund awarded with interest while the 2008-09 settlement proceeds without that adjustment.
The Settlement Act is a self-contained code prescribing conditions, methodology and consequences of settlement and does not permit designated authorities to import MVAT Section 50 adjustment powers when determining settlement dues; refunds are not treated as payments in respect of statutory orders and arrears are computed year-wise, so adjusting a 2007-08 refund against a 2008-09 settlement is barred and defeats the scheme. Further, the designated authority must afford a reasonable opportunity to be heard as required by Section 13 provisions and principles of natural justice; the impugned adjustment order was set aside and the refund awarded with interest while the 2008-09 settlement proceeds without that adjustment.
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