Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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In a writ challenge to denial of input tax credit, the High Court held that the genuineness of supply required a fuller examination where the supplier was registered during the relevant period, the invoices reflected vehicle details, and the petitioner asserted that transport was arranged by the supplier and tax had been paid on the supplies. The order was unsustainable because the proposal was confirmed merely for want of lorry receipts and weighment slips, without considering that material evidence. The impugned order was set aside and the matter remanded for fresh consideration, with liberty to file additional documents and after affording a reasonable opportunity of hearing.
In a writ challenge to denial of input tax credit, the High Court held that the genuineness of supply required a fuller examination where the supplier was registered during the relevant period, the invoices reflected vehicle details, and the petitioner asserted that transport was arranged by the supplier and tax had been paid on the supplies. The order was unsustainable because the proposal was confirmed merely for want of lorry receipts and weighment slips, without considering that material evidence. The impugned order was set aside and the matter remanded for fresh consideration, with liberty to file additional documents and after affording a reasonable opportunity of hearing.
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