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...
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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