In this 102nd edition, we bring you articles dealing with certain landmark judgments. The article on the judgment of Supreme Court in Mansukh Dyeing and Printing Mills, upholding the decision of Bombay High Court in AN Naik Associates & Others is a must read. The Supreme Court held that the expression ‘otherwise’ which appears in Section 45(4) [old] covers the instance of ‘retirement’ also and not to be restricted only to instances of dissolution. This puts a lot of cases under stress, who took the stand that old section covers only instances of dissolutions.
The next article is on the judgment of Supreme Court in Sansera Engineering Limited, wherein it was held that time limit that was applicable for refund under Section 11B is equally applicable to rebate filed under Rule 18 of Central Excise Rules. This also puts an end to a long outstanding issue of different treatment to rebate. Now, under GST laws, though expression ‘rebate’ is not used, the methodology is still being used, so, we tried to apply the rationale of Sansera to the current law.