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...
Opportunity for extension for filing response to the show cause denied = Recovery of Tax Dues - Consideration for rejection of an application for extension was that more than six adjournments were granted - The High court found that the proper officer was obliged to consider the petitioner's application for extension and should not have passed the final order without doing so. - The court held that the failure to grant an extension and offer a personal hearing despite the petitioner showing sufficient cause amounted to a violation of natural justice. - The court quashed the recovery notice issued by the respondents, directing the petitioner to file its response to the show cause notice and ordering the respondents to communicate the date of personal hearing.
Opportunity for extension for filing response to the show cause denied = Recovery of Tax Dues - Consideration for rejection of an application for extension was that more than six adjournments were granted - The High court found that the proper officer was obliged to consider the petitioner's application for extension and should not have passed the final order without doing so. - The court held that the failure to grant an extension and offer a personal hearing despite the petitioner showing sufficient cause amounted to a violation of natural justice. - The court quashed the recovery notice issued by the respondents, directing the petitioner to file its response to the show cause notice and ordering the respondents to communicate the date of personal hearing.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
