Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
The petitioner challenged the issuance of multiple audit memos determining tax liability beyond the stipulated period u/s 65(4) of the CGST/DGST Act. While the multiple audit memos indicating findings and demanding tax payment were irregular u/s 65(6), the impugned show cause notice (SCN) premised on the audit report findings is within the statutory framework. Any irregularities in issuing audit memos do not impinge the validity of the SCN. Therefore, the petition to quash the SCN at the threshold stage cannot be accepted, and the petition is disposed of.
The petitioner challenged the issuance of multiple audit memos determining tax liability beyond the stipulated period u/s 65(4) of the CGST/DGST Act. While the multiple audit memos indicating findings and demanding tax payment were irregular u/s 65(6), the impugned show cause notice (SCN) premised on the audit report findings is within the statutory framework. Any irregularities in issuing audit memos do not impinge the validity of the SCN. Therefore, the petition to quash the SCN at the threshold stage cannot be accepted, and the petition is disposed of.
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