Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Revision of returns for omitted inward and outward stock-transfer transactions cannot be rejected solely because accounts were not audited where the application is independent of an audit report. The article notes that unrelated penalty proceedings and assessments for another year do not affect the relevant revision request; the revision was directed to be accepted and the proposed KVAT assessment held pending disposal. GST orders based on an adverse inference that jewellery sent outside the State was not returned arose from the same transactions. They were set aside pending the revision outcome, with fresh GST action permitted thereafter in accordance with that outcome.
Revision of returns for omitted inward and outward stock-transfer transactions cannot be rejected solely because accounts were not audited where the application is independent of an audit report. The article notes that unrelated penalty proceedings and assessments for another year do not affect the relevant revision request; the revision was directed to be accepted and the proposed KVAT assessment held pending disposal. GST orders based on an adverse inference that jewellery sent outside the State was not returned arose from the same transactions. They were set aside pending the revision outcome, with fresh GST action permitted thereafter in accordance with that outcome.
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