Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Section 74 of the CGST Act requires evidence of fraud, willful misstatement or deliberate suppression with intent to evade tax; mere availment of ineligible self-assessed input tax credit does not meet that standard. Disclosure of ITC reconciliation in GSTR-9C and annual returns on the GST portal negates an allegation of concealed facts absent contrary evidence. Failure to reply to an audit enquiry or final audit report is likewise not suppression where the underlying data is disclosed and no statutory reply is required. A demand also cannot be sustained on a ground introduced beyond the show cause notice, as this denies the taxpayer an opportunity to respond and breaches natural justice.
Section 74 of the CGST Act requires evidence of fraud, willful misstatement or deliberate suppression with intent to evade tax; mere availment of ineligible self-assessed input tax credit does not meet that standard. Disclosure of ITC reconciliation in GSTR-9C and annual returns on the GST portal negates an allegation of concealed facts absent contrary evidence. Failure to reply to an audit enquiry or final audit report is likewise not suppression where the underlying data is disclosed and no statutory reply is required. A demand also cannot be sustained on a ground introduced beyond the show cause notice, as this denies the taxpayer an opportunity to respond and breaches natural justice.
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