Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The High Court directed the respondents to allow the petitioner, a small businessman, to upload the input tax credit certificate in the web portal by condoning the delay of 2 days in filing Form GST ITC-01 within the stipulated 30 days. The delay occurred due to the COVID-19 period, and the petitioner's application for withdrawal from the composition scheme was approved on 12th November 2021. The Joint Commissioner had accepted the petitioner's explanation and found the delay condonable, but did not identify any provision to allow it. The High Court held that Rule 40(1)(b) permits condonation of delay and directed the respondents to condone the delay and permit the petitioner to file Form GST ITC-01 in the peculiar circumstances.
The High Court directed the respondents to allow the petitioner, a small businessman, to upload the input tax credit certificate in the web portal by condoning the delay of 2 days in filing Form GST ITC-01 within the stipulated 30 days. The delay occurred due to the COVID-19 period, and the petitioner's application for withdrawal from the composition scheme was approved on 12th November 2021. The Joint Commissioner had accepted the petitioner's explanation and found the delay condonable, but did not identify any provision to allow it. The High Court held that Rule 40(1)(b) permits condonation of delay and directed the respondents to condone the delay and permit the petitioner to file Form GST ITC-01 in the peculiar circumstances.
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