Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Excess stock found during survey triggers proceedings u/ss 73/74 of the GST Act, not Section 130. The authority noted excess stock by eye estimation without physical verification or video recording. The High Court held that if excess stock is found, proceedings u/ss 73/74 should be initiated, not Section 130 read with Rule 120. The impugned orders initiating proceedings u/s 130 were quashed as legally unsustainable when excess stock was found during the survey.
Excess stock found during survey triggers proceedings u/ss 73/74 of the GST Act, not Section 130. The authority noted excess stock by eye estimation without physical verification or video recording. The High Court held that if excess stock is found, proceedings u/ss 73/74 should be initiated, not Section 130 read with Rule 120. The impugned orders initiating proceedings u/s 130 were quashed as legally unsustainable when excess stock was found during the survey.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
