Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Challenge to a GST penalty failed because the show cause notice alleged non-production of proof for inward supplies and supporting documents, and the HC treated matching documents, weighment slips and RFID particulars as material to establish actual receipt of goods and valid input tax credit. It held that input tax credit is provisional and may be denied where the assessee cannot prove receipt of goods or satisfy the statutory conditions for availment. On that basis, the objection that the order travelled beyond the notice or breached Section 75(7) was rejected, the writ was dismissed, and liberty was given to pursue the statutory appeal.
Challenge to a GST penalty failed because the show cause notice alleged non-production of proof for inward supplies and supporting documents, and the HC treated matching documents, weighment slips and RFID particulars as material to establish actual receipt of goods and valid input tax credit. It held that input tax credit is provisional and may be denied where the assessee cannot prove receipt of goods or satisfy the statutory conditions for availment. On that basis, the objection that the order travelled beyond the notice or breached Section 75(7) was rejected, the writ was dismissed, and liberty was given to pursue the statutory appeal.
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