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...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The Delhi High Court reviewed a case concerning excess Input Tax Credit claimed by a taxpayer by comparing GSTR-2A with GSTR-3B. The court noted the lack of cooperation from the taxpayer and discrepancies in the ITC data despite a special audit. The court referred to Sections 73(7) and 73(9) of the CGST/DGST Act regarding tax notices and penalties. The court found the officer did not properly consider the detailed reply and supporting documents provided by the taxpayer. Consequently, the court set aside the order dated 27.04.2024, ruling in favor of the petitioner and disposing of the petition.
The Delhi High Court reviewed a case concerning excess Input Tax Credit claimed by a taxpayer by comparing GSTR-2A with GSTR-3B. The court noted the lack of cooperation from the taxpayer and discrepancies in the ITC data despite a special audit. The court referred to Sections 73(7) and 73(9) of the CGST/DGST Act regarding tax notices and penalties. The court found the officer did not properly consider the detailed reply and supporting documents provided by the taxpayer. Consequently, the court set aside the order dated 27.04.2024, ruling in favor of the petitioner and disposing of the petition.
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