Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Denial of input tax credit - demand of differential input tax - The court notes the discrepancy in the GST numbers but suggests the petitioner could obtain certification from the supplier to validate the transactions. However, the petitioner filed belated returns and paid taxes late, which led to the issuance of a show cause notice. The court finds no merit in the petitioner's argument regarding the imposition of penalties, emphasizing the belated payment of taxes and interest. - While dismissing the writ petition, the court grants the petitioner liberty to file an appeal within 30 days from the receipt of the order.
Denial of input tax credit - demand of differential input tax - The court notes the discrepancy in the GST numbers but suggests the petitioner could obtain certification from the supplier to validate the transactions. However, the petitioner filed belated returns and paid taxes late, which led to the issuance of a show cause notice. The court finds no merit in the petitioner's argument regarding the imposition of penalties, emphasizing the belated payment of taxes and interest. - While dismissing the writ petition, the court grants the petitioner liberty to file an appeal within 30 days from the receipt of the order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
