Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Penalty levied u/s 73 of SGST and CGST for alleged discrepancy between value of supply reported in GSTR 3B and GSTR 1. Court held that Revenue did not have serious objection considering petitioner's willingness to pay 10% penalty and inability to participate due to ill-health. Impugned order set aside, directing fresh order after providing opportunity of hearing to petitioner. Petitioner to submit objection within two weeks, to be considered and orders passed in accordance with law after granting reasonable opportunity. Petition disposed of.
Penalty levied u/s 73 of SGST and CGST for alleged discrepancy between value of supply reported in GSTR 3B and GSTR 1. Court held that Revenue did not have serious objection considering petitioner's willingness to pay 10% penalty and inability to participate due to ill-health. Impugned order set aside, directing fresh order after providing opportunity of hearing to petitioner. Petitioner to submit objection within two weeks, to be considered and orders passed in accordance with law after granting reasonable opportunity. Petition disposed of.
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