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...
Blocking of an electronic credit ledger carries civil consequences and, even where the authority has jurisdiction to act on suspected fraudulent availment of input tax credit, it must comply with natural justice. The HC noted that prior notice and an opportunity of hearing are required before such blocking. As the impugned order was issued without giving the affected person that opportunity, it was set aside. The authority was left free to commence fresh proceedings in accordance with law after due notice and hearing.
Blocking of an electronic credit ledger carries civil consequences and, even where the authority has jurisdiction to act on suspected fraudulent availment of input tax credit, it must comply with natural justice. The HC noted that prior notice and an opportunity of hearing are required before such blocking. As the impugned order was issued without giving the affected person that opportunity, it was set aside. The authority was left free to commence fresh proceedings in accordance with law after due notice and hearing.
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