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...
The application for advance ruling is liable for rejection under the first proviso to Section 98(2) of the CGST/TNGST Acts, 2017, as proceedings on the same issue were already initiated and pending against the applicant. The initiation of investigation through summons, recording of statements, furnishing of details by the applicant, and issuance of an Incident Report by DGGI, all preceded the filing of the advance ruling application. Pronouncing a ruling on an issue under investigation may vitiate the adjudication proceedings involving the show cause notice. The scope of 'proceedings' under the CGST Act encompasses investigations initiated against the applicant, involving the same issue raised in the advance ruling query.
The application for advance ruling is liable for rejection under the first proviso to Section 98(2) of the CGST/TNGST Acts, 2017, as proceedings on the same issue were already initiated and pending against the applicant. The initiation of investigation through summons, recording of statements, furnishing of details by the applicant, and issuance of an Incident Report by DGGI, all preceded the filing of the advance ruling application. Pronouncing a ruling on an issue under investigation may vitiate the adjudication proceedings involving the show cause notice. The scope of 'proceedings' under the CGST Act encompasses investigations initiated against the applicant, involving the same issue raised in the advance ruling query.
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