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...
Transitional credit of input tax available under VAT Act sought. State contended refund application pursuant to Annexure-P/15 required. Court held refund of Rs. 5,38,20,214/- sanctioned payable to petitioner unrelated to input tax sought for transitional credit in GST period. Rs. 32,29,195/- withheld due to additional demand, would have been forfeited if input tax claim disallowed. Input tax claim allowed, withholding of refund amounts to that extent to be disbursed as per Section 54(12) of CGST Act. No refund application required since major refund portion under Annexure-P/15 already refunded. Refund with applicable interest to be made within one month. Writ petition disposed of.
Transitional credit of input tax available under VAT Act sought. State contended refund application pursuant to Annexure-P/15 required. Court held refund of Rs. 5,38,20,214/- sanctioned payable to petitioner unrelated to input tax sought for transitional credit in GST period. Rs. 32,29,195/- withheld due to additional demand, would have been forfeited if input tax claim disallowed. Input tax claim allowed, withholding of refund amounts to that extent to be disbursed as per Section 54(12) of CGST Act. No refund application required since major refund portion under Annexure-P/15 already refunded. Refund with applicable interest to be made within one month. Writ petition disposed of.
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