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 High Court considered a challenge to an assessment order based on disparity between the petitioner's GSTR 3B return and the supplier's GSTR 1 return. The petitioner's explanation for the disparity was noted, attributing it to the supplier's error in reporting turnover. The court found the petitioner negligent for not uploading the reply and not participating in proceedings. The petitioner agreed to remit 10% of the disputed demand for a remand. In the interest of justice, the court quashed the order, allowing the petitioner to contest the tax demand by placing relevant documents on record. The impugned order was set aside on the condition of remitting 10% of the disputed tax demand within two weeks.
The High Court considered a challenge to an assessment order based on disparity between the petitioner's GSTR 3B return and the supplier's GSTR 1 return. The petitioner's explanation for the disparity was noted, attributing it to the supplier's error in reporting turnover. The court found the petitioner negligent for not uploading the reply and not participating in proceedings. The petitioner agreed to remit 10% of the disputed demand for a remand. In the interest of justice, the court quashed the order, allowing the petitioner to contest the tax demand by placing relevant documents on record. The impugned order was set aside on the condition of remitting 10% of the disputed tax demand within two weeks.
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