Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Denial of Input Tax Credit (ITC) - Proof of movement of Goods (E-way bill) not produced - The High court acknowledges that the petitioner submitted original tax invoices, ledger accounts, bank statements, and relevant GSTR returns to support their position. However, they did not provide e-way bills, lorry receipts, or weighment slips to establish the actual movement of goods. The court notes that while the tax proposal was confirmed largely due to lack of proof of actual movement of goods, the documents submitted by the petitioner, including bank statements and GSTR 2A, indicated the availability of ITC. Thus, it deems it appropriate to provide the petitioner with an opportunity to produce additional documents to prove actual movement of goods. Matter restored back.
Denial of Input Tax Credit (ITC) - Proof of movement of Goods (E-way bill) not produced - The High court acknowledges that the petitioner submitted original tax invoices, ledger accounts, bank statements, and relevant GSTR returns to support their position. However, they did not provide e-way bills, lorry receipts, or weighment slips to establish the actual movement of goods. The court notes that while the tax proposal was confirmed largely due to lack of proof of actual movement of goods, the documents submitted by the petitioner, including bank statements and GSTR 2A, indicated the availability of ITC. Thus, it deems it appropriate to provide the petitioner with an opportunity to produce additional documents to prove actual movement of goods. Matter restored back.
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