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...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Levy of tax - non-banking financial services - sundry creditors - GSTR-9C reconciliation statement - The Court found that treating total trade receivables as taxable turnover was erroneous, especially when the issue of non-payment to sundry creditors was raised. It was reasoned that only trade payables, not receivables, should have been considered for tax liability. The impugned order was set aside on this issue, and it was remanded for reconsideration.
Levy of tax - non-banking financial services - sundry creditors - GSTR-9C reconciliation statement - The Court found that treating total trade receivables as taxable turnover was erroneous, especially when the issue of non-payment to sundry creditors was raised. It was reasoned that only trade payables, not receivables, should have been considered for tax liability. The impugned order was set aside on this issue, and it was remanded for reconsideration.
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