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 High Court quashed the impugned Order-In-Original dated 31.12.2020, which was passed in violation of principles of natural justice by not granting an opportunity of hearing to the petitioner and not considering the petitioner's reply to the show-cause notice. The matter was remanded back to the adjudicating authority to pass a fresh de novo order after giving an opportunity of hearing to the petitioner, who shall be at liberty to raise all contentions raised in the petition. The case pertained to the exemption from IGST under Sr.No.144 of N/N. 2/2017 Integrated Tax (Rate) dated 28.06.2017 for brooms sticks imported by the petitioner made out of Cocos Nucifera and Nypha Fruitcane.
The High Court quashed the impugned Order-In-Original dated 31.12.2020, which was passed in violation of principles of natural justice by not granting an opportunity of hearing to the petitioner and not considering the petitioner's reply to the show-cause notice. The matter was remanded back to the adjudicating authority to pass a fresh de novo order after giving an opportunity of hearing to the petitioner, who shall be at liberty to raise all contentions raised in the petition. The case pertained to the exemption from IGST under Sr.No.144 of N/N. 2/2017 Integrated Tax (Rate) dated 28.06.2017 for brooms sticks imported by the petitioner made out of Cocos Nucifera and Nypha Fruitcane.
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