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 had availed Input Tax Credit (ITC) from certain suppliers whose registration was subsequently cancelled. The petitioner contended that at the relevant time, the suppliers were registered under GST laws, and the petitioner had paid the invoiced amount including GST, entitling it to claim ITC. However, the adjudicating authority did not examine this contention. The High Court set aside the impugned order and granted the petitioner an opportunity to file supporting documents substantiating its claim to avail ITC within two weeks, remanding the matter for fresh consideration.
The petitioner had availed Input Tax Credit (ITC) from certain suppliers whose registration was subsequently cancelled. The petitioner contended that at the relevant time, the suppliers were registered under GST laws, and the petitioner had paid the invoiced amount including GST, entitling it to claim ITC. However, the adjudicating authority did not examine this contention. The High Court set aside the impugned order and granted the petitioner an opportunity to file supporting documents substantiating its claim to avail ITC within two weeks, remanding the matter for fresh consideration.
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