Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The High Court set aside the order cancelling the petitioner's registration under the Central Goods and Services Tax Act, 2017 and the West Bengal Goods and Services Tax Act, 2017, subject to the condition that the petitioner files returns for the entire period of default and pays the requisite amount of tax, interest, fine, and penalty, if not already paid. The cancellation was due to the petitioner's failure to comply with statutory provisions by not filing returns, but the Court noted that suspension/revocation would be counterproductive and against revenue interests as it would prevent the petitioner from carrying on business and raising invoices, ultimately impacting tax recovery. The Court took a pragmatic view, considering that the respondents did not allege dubious processes to evade tax.
The High Court set aside the order cancelling the petitioner's registration under the Central Goods and Services Tax Act, 2017 and the West Bengal Goods and Services Tax Act, 2017, subject to the condition that the petitioner files returns for the entire period of default and pays the requisite amount of tax, interest, fine, and penalty, if not already paid. The cancellation was due to the petitioner's failure to comply with statutory provisions by not filing returns, but the Court noted that suspension/revocation would be counterproductive and against revenue interests as it would prevent the petitioner from carrying on business and raising invoices, ultimately impacting tax recovery. The Court took a pragmatic view, considering that the respondents did not allege dubious processes to evade tax.
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