Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
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Consolidated show-cause notices covering multiple financial years are maintainable under Sections 73 and 74 of the CGST and SGST enactments, which do not prohibit clubbing tax periods in one notice. Quashing such a notice and consequential orders solely because multiple years were combined is unsustainable. An appellate authority must also provide an effective hearing on the merits where the appellant seeks condonation of delay and admission of the appeal for that purpose. Restricting the hearing to delay and deciding the appeal without a merits hearing breaches principles of natural justice. The appellate order was set aside and remitted for a merits hearing.
Consolidated show-cause notices covering multiple financial years are maintainable under Sections 73 and 74 of the CGST and SGST enactments, which do not prohibit clubbing tax periods in one notice. Quashing such a notice and consequential orders solely because multiple years were combined is unsustainable. An appellate authority must also provide an effective hearing on the merits where the appellant seeks condonation of delay and admission of the appeal for that purpose. Restricting the hearing to delay and deciding the appeal without a merits hearing breaches principles of natural justice. The appellate order was set aside and remitted for a merits hearing.
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