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 issued by the tax authorities after scrutiny of GST returns u/s 61, as the principles of natural justice were violated by not providing an opportunity of hearing. The petitioner inadvertently claimed input tax credit under the wrong column in GSTR-3B, which was clarified through a reply, but the authorities failed to consider it before passing the orders and recovering excess tax. Consequently, the HC set aside the orders, lifted the attachment on the petitioner's bank account, and directed the authorities to release the attachment immediately upon production of the court order, disposing of the writ petition.
The High Court quashed the orders issued by the tax authorities after scrutiny of GST returns u/s 61, as the principles of natural justice were violated by not providing an opportunity of hearing. The petitioner inadvertently claimed input tax credit under the wrong column in GSTR-3B, which was clarified through a reply, but the authorities failed to consider it before passing the orders and recovering excess tax. Consequently, the HC set aside the orders, lifted the attachment on the petitioner's bank account, and directed the authorities to release the attachment immediately upon production of the court order, disposing of the writ petition.
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