Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Retrospective cancellation of GST registration - The show cause notice issued to the petitioner did not specify any cogent reason for cancellation but merely stated the non-filing of returns for six months. Moreover, it failed to indicate the date and time for the petitioner's appearance for a personal hearing. The High Court emphasized that the cancellation of GST registration, especially with retrospective effect, must be based on objective criteria and not merely because of non-filing of returns. The court modified the impugned order to cancel the registration with effect from the date the petitioner filed the application for cancellation. - However, it allowed the respondent to take appropriate steps for recovery of taxes, penalties, or interest as per the law.
Retrospective cancellation of GST registration - The show cause notice issued to the petitioner did not specify any cogent reason for cancellation but merely stated the non-filing of returns for six months. Moreover, it failed to indicate the date and time for the petitioner's appearance for a personal hearing. The High Court emphasized that the cancellation of GST registration, especially with retrospective effect, must be based on objective criteria and not merely because of non-filing of returns. The court modified the impugned order to cancel the registration with effect from the date the petitioner filed the application for cancellation. - However, it allowed the respondent to take appropriate steps for recovery of taxes, penalties, or interest as per the law.
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