Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Sections 16(2)(c) and 16(2)(d) of the Assam and Central Goods and Services Tax Acts, 2017, were challenged regarding the validity of punishing a purchasing dealer for the selling dealer's failure to deposit collected tax. The High Court held that the controversy is covered by the Delhi High Court's decision in On Quest Merchandising India Pvt. Ltd. case, where it was ruled that default assessment orders against purchasing dealers invoking Section 9(2)(g) of the DVAT Act for the selling dealer's default were set aside. Consequently, the impugned show cause notices and consequential orders were set aside in the present case. However, the Department can act against non-bona fide purchase transactions in accordance with the law. The writ petition was disposed of.
Sections 16(2)(c) and 16(2)(d) of the Assam and Central Goods and Services Tax Acts, 2017, were challenged regarding the validity of punishing a purchasing dealer for the selling dealer's failure to deposit collected tax. The High Court held that the controversy is covered by the Delhi High Court's decision in On Quest Merchandising India Pvt. Ltd. case, where it was ruled that default assessment orders against purchasing dealers invoking Section 9(2)(g) of the DVAT Act for the selling dealer's default were set aside. Consequently, the impugned show cause notices and consequential orders were set aside in the present case. However, the Department can act against non-bona fide purchase transactions in accordance with the law. The writ petition was disposed of.
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