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...
Liability on the head of IGST and interest with a penalty - The major contention arises from the treatment of sundry creditors' liability. The petitioner asserts that the liability was wrongly assessed without considering the tax component and argues for the deduction of the Input Tax Credit (ITC) tax element from the total sundry credit amount. - The learned Additional Government Pleader suggests that the petitioner has the option to file an application u/s161 of the GST Act within 90 days to rectify any errors in the assessment order. - The High court disposed of the writ petition with the liberty granted to the petitioner to file an application u/s 161 of the GST Act, along with necessary documents.
Liability on the head of IGST and interest with a penalty - The major contention arises from the treatment of sundry creditors' liability. The petitioner asserts that the liability was wrongly assessed without considering the tax component and argues for the deduction of the Input Tax Credit (ITC) tax element from the total sundry credit amount. - The learned Additional Government Pleader suggests that the petitioner has the option to file an application u/s161 of the GST Act within 90 days to rectify any errors in the assessment order. - The High court disposed of the writ petition with the liberty granted to the petitioner to file an application u/s 161 of the GST Act, along with necessary documents.
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