Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
The court held that the petitioner cannot be made liable to pay GST under the reverse charge mechanism if it would lead to double taxation, provided the entire tax amount has been discharged. The court relied on its previous decision, wherein it was held that if the tax has reached the government's coffers, the assessee cannot be made to pay double tax merely due to non-adherence to the prescribed ratio for payment of tax between the assessee and the service provider. The court found its earlier judgment in M/s. Zyeta Interiors Pvt. Ltd. directly applicable to the present case and quashed the impugned order, allowing the petition.
The court held that the petitioner cannot be made liable to pay GST under the reverse charge mechanism if it would lead to double taxation, provided the entire tax amount has been discharged. The court relied on its previous decision, wherein it was held that if the tax has reached the government's coffers, the assessee cannot be made to pay double tax merely due to non-adherence to the prescribed ratio for payment of tax between the assessee and the service provider. The court found its earlier judgment in M/s. Zyeta Interiors Pvt. Ltd. directly applicable to the present case and quashed the impugned order, allowing the petition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
