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...
Imposition of tax and penalty u/s 129(3) - e-way bill had expired nine hours and thirty minutes prior to interception - The High court referred to previous cases where mens rea to evade tax was deemed essential for penalty imposition. In the present case, the court found no evidence of intent to evade tax, as the goods were properly documented, and the delay was due to a breakdown. The court emphasized that the failure to extend the e-way bill was a technical breach and not sufficient grounds for imposing a penalty under Section 129(3) of the Act.
Imposition of tax and penalty u/s 129(3) - e-way bill had expired nine hours and thirty minutes prior to interception - The High court referred to previous cases where mens rea to evade tax was deemed essential for penalty imposition. In the present case, the court found no evidence of intent to evade tax, as the goods were properly documented, and the delay was due to a breakdown. The court emphasized that the failure to extend the e-way bill was a technical breach and not sufficient grounds for imposing a penalty under Section 129(3) of the Act.
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