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...
The petitioner challenged orders u/s 62 of the TNGST Act for failing to furnish returns from April to July 2023 within the prescribed period. The High Court held that considering similar circumstances where the petitioner was granted an opportunity upon payment of 25% of the differential tax, it directed the petitioner to deposit 25% of the differential tax between the tax remitted in GSTR 3B and the assessed tax within two weeks. If such tax is paid, the assessing officer shall redo the assessment after hearing the petitioner. The impugned order was set aside, and the assessing officer was directed to consider the impact of the amendment and pass fresh orders on merits in accordance with the law. The petition was disposed of.
The petitioner challenged orders u/s 62 of the TNGST Act for failing to furnish returns from April to July 2023 within the prescribed period. The High Court held that considering similar circumstances where the petitioner was granted an opportunity upon payment of 25% of the differential tax, it directed the petitioner to deposit 25% of the differential tax between the tax remitted in GSTR 3B and the assessed tax within two weeks. If such tax is paid, the assessing officer shall redo the assessment after hearing the petitioner. The impugned order was set aside, and the assessing officer was directed to consider the impact of the amendment and pass fresh orders on merits in accordance with the law. The petition was disposed of.
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