The AAR held that arbitration awards representing upward price revision under pre-GST contracts are taxable under GST. Compensation not linked to contractual price revision is not taxable.
The High Court set aside the termination of an employee accused of submitting false educational documents, holding that no enquiry or hearing was conducted. The order was found to be stigmatic and punitive, violating principles of natural justice.
The Tribunal clarified that under the pre-amended law, accumulated income could be applied within five years or the immediately following year. Utilization within the sixth year barred taxation in AY 2023-24.
The ruling confirms that transactions with banks involve third parties, defeating the identity required for mutuality. While sustaining taxability, the Tribunal permitted a 5% estimated expense deduction to compute real income.
The Tribunal held that commission paid to overseas agents formed part of the true FOB export value and was not properly declared, violating Section 7 of FEMA. However, penalties were substantially reduced after considering the overall facts.
It was ruled that claims arising before insolvency commencement cannot be enforced if not part of the approved Resolution Plan. The penalty imposed by the Enforcement Directorate was quashed.
The Tribunal held that export values were reduced to account for overseas commission payments, violating Section 7 of FEMA. However, penalties were substantially reduced considering the facts and partial relief was granted.
The High Court quashed an adjudication order as the notice was served only electronically after GST registration cancellation. Physical service under Section 169 was held mandatory.
The Court held that losses already set off in earlier years cannot be notionally carried forward for computing deduction under Section 80IA. The ruling follows binding precedent restricting retrospective reworking of absorbed losses.
The Tribunal held that service tax paid under a partner’s registration can be adjusted against the firm’s liability. However, liability as a sub-contractor was upheld.
