Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Validity of detention order - The petitioner argued that being a buyer from a GST-registered supplier, they had no means or obligation to verify the supplier's compliance with GST regulations. - The High court noted that the supplier company had cleared its tax dues on 30.12.2023, before the issuance of the show cause notice, which diminished the claim of intent to evade tax. Furthermore, the court observed that if there were any deficiencies in the supplier’s documentation, the registration should not have been granted. Therefore, once the supplier was registered and had paid the tax, allegations against them didn't hold. - Considering these points, the high court held that the petitioner, being unrelated to the supplier's alleged discrepancies, should not be penalized.
Validity of detention order - The petitioner argued that being a buyer from a GST-registered supplier, they had no means or obligation to verify the supplier's compliance with GST regulations. - The High court noted that the supplier company had cleared its tax dues on 30.12.2023, before the issuance of the show cause notice, which diminished the claim of intent to evade tax. Furthermore, the court observed that if there were any deficiencies in the supplier’s documentation, the registration should not have been granted. Therefore, once the supplier was registered and had paid the tax, allegations against them didn't hold. - Considering these points, the high court held that the petitioner, being unrelated to the supplier's alleged discrepancies, should not be penalized.
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