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 High Court quashed the orders dismissing the appeal filed by the petitioner firm on grounds of limitation and the order passed u/s 73(9) of the Central Goods and Services Tax Act, 2017. The managing partner of the petitioner firm was critically ill with cancer from March to August 2022, and the firm had uploaded returns for March, April, and May 2022. However, the respondent department failed to grant an opportunity of hearing before passing the impugned order dated 04.04.2022, violating the principles of natural justice u/s 75(4) of the CGST Act. The Court held that despite the firm's inability to reply to the notice due to the managing partner's illness, one fair chance should have been given to comply with natural justice. Consequently, the matter was remanded back to the respondent to decide the show-cause notice after granting an opportunity of hearing to the petitioner.
The High Court quashed the orders dismissing the appeal filed by the petitioner firm on grounds of limitation and the order passed u/s 73(9) of the Central Goods and Services Tax Act, 2017. The managing partner of the petitioner firm was critically ill with cancer from March to August 2022, and the firm had uploaded returns for March, April, and May 2022. However, the respondent department failed to grant an opportunity of hearing before passing the impugned order dated 04.04.2022, violating the principles of natural justice u/s 75(4) of the CGST Act. The Court held that despite the firm's inability to reply to the notice due to the managing partner's illness, one fair chance should have been given to comply with natural justice. Consequently, the matter was remanded back to the respondent to decide the show-cause notice after granting an opportunity of hearing to the petitioner.
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