Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
The High Court addressed a challenge to assessment orders where the petitioner lacked a reasonable opportunity to contest tax demands due to discrepancies in returns. The petitioner did not respond to a show cause notice. The court found that the petitioner relied on a notification for GST exemption. The impugned orders were set aside with a condition for the petitioner to remit 10% of disputed tax demands within two weeks, after crediting a specific amount already paid. The writ petition was disposed of, granting the petitioner an opportunity to contest the tax demands on merits.
The High Court addressed a challenge to assessment orders where the petitioner lacked a reasonable opportunity to contest tax demands due to discrepancies in returns. The petitioner did not respond to a show cause notice. The court found that the petitioner relied on a notification for GST exemption. The impugned orders were set aside with a condition for the petitioner to remit 10% of disputed tax demands within two weeks, after crediting a specific amount already paid. The writ petition was disposed of, granting the petitioner an opportunity to contest the tax demands on merits.
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