Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The High Court rectified its previous order, holding that Notification No. 54/2018 Central Tax shall apply prospectively from 9th October 2018 only. Consequently, the show cause notice dated 31.03.2023, issued on the basis of retrospective operation of the said Notification for the period prior to 9.10.2018, was quashed as being without jurisdiction. The amount quantified towards alleged erroneous refund for the period before 9.10.2018 would not survive, as the Notification would be applicable prospectively. The petition was disposed of accordingly.
The High Court rectified its previous order, holding that Notification No. 54/2018 Central Tax shall apply prospectively from 9th October 2018 only. Consequently, the show cause notice dated 31.03.2023, issued on the basis of retrospective operation of the said Notification for the period prior to 9.10.2018, was quashed as being without jurisdiction. The amount quantified towards alleged erroneous refund for the period before 9.10.2018 would not survive, as the Notification would be applicable prospectively. The petition was disposed of accordingly.
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