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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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