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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Validity of determination of GST liability (demand) u/s 73(1) - Rejection of the compounding application - Eligibility for composition scheme u/s 10(2)(a) - The High Court found merit in the petitioner's argument regarding procedural irregularity. It noted that the show cause notice for determining tax liability was issued before the eligibility for the composition scheme was even considered, let alone rejected. This violated the statutory scheme outlined in the Act. The Court emphasized that the proper sequence of procedures should have been followed, starting with determining the petitioner's eligibility for the composition scheme. Only after an order rejecting the composition application should a notice under Section 73(1) be issued to determine tax liability.
Validity of determination of GST liability (demand) u/s 73(1) - Rejection of the compounding application - Eligibility for composition scheme u/s 10(2)(a) - The High Court found merit in the petitioner's argument regarding procedural irregularity. It noted that the show cause notice for determining tax liability was issued before the eligibility for the composition scheme was even considered, let alone rejected. This violated the statutory scheme outlined in the Act. The Court emphasized that the proper sequence of procedures should have been followed, starting with determining the petitioner's eligibility for the composition scheme. Only after an order rejecting the composition application should a notice under Section 73(1) be issued to determine tax liability.
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