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...
Wrong availment and utilization of Input Tax Credit (ITC) - The petitioner, engaged in the business of dealing in copper waste and scrap, provided ledger accounts, tax invoices, and E-way bills as evidence of legitimate purchases, but the Assessing Officer did not consider these documents. The court found that the impugned orders lacked discussion on the petitioner's documents and did not address deficiencies or inadequacies in the evidence provided. Consequently, the matters were remanded for reconsideration, with the second respondent directed to reissue a fresh assessment order after giving the petitioner a reasonable opportunity. - HC
Wrong availment and utilization of Input Tax Credit (ITC) - The petitioner, engaged in the business of dealing in copper waste and scrap, provided ledger accounts, tax invoices, and E-way bills as evidence of legitimate purchases, but the Assessing Officer did not consider these documents. The court found that the impugned orders lacked discussion on the petitioner's documents and did not address deficiencies or inadequacies in the evidence provided. Consequently, the matters were remanded for reconsideration, with the second respondent directed to reissue a fresh assessment order after giving the petitioner a reasonable opportunity. - HC
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