Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
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Refund claims under GST could not be rejected without examining the governing agreement that defined the service arrangement. The High Court found that the appellate authority had not recorded findings on whether the supplies were export of services or intermediary services, even though that characterisation was central to the claim for zero-rated treatment under the IGST Act. As the agreement was foundational to determining the nature of the services, the impugned appellate orders were unsustainable. The orders were quashed and the refund proceedings remanded to the appellate authority for fresh consideration after hearing the parties, with all contentions kept open.
Refund claims under GST could not be rejected without examining the governing agreement that defined the service arrangement. The High Court found that the appellate authority had not recorded findings on whether the supplies were export of services or intermediary services, even though that characterisation was central to the claim for zero-rated treatment under the IGST Act. As the agreement was foundational to determining the nature of the services, the impugned appellate orders were unsustainable. The orders were quashed and the refund proceedings remanded to the appellate authority for fresh consideration after hearing the parties, with all contentions kept open.
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