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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 addressed the validity of a show cause notice (SCN) and final order issued against a non-existent entity, the rectification of procedural defects, and the applicability of Sections 160 and 87 of the CGST Act, 2017, concerning amalgamated companies. Section 87 seeks to preserve and identify transactions between companies that ultimately amalgamate, fixing liabilities under the CGST Act. However, it cannot enable issuing notices or orders against a non-existent entity, as the liabilities would transpose to the amalgamated entity. Consequently, the impugned SCN and order were quashed, and the petition was allowed.
The High Court addressed the validity of a show cause notice (SCN) and final order issued against a non-existent entity, the rectification of procedural defects, and the applicability of Sections 160 and 87 of the CGST Act, 2017, concerning amalgamated companies. Section 87 seeks to preserve and identify transactions between companies that ultimately amalgamate, fixing liabilities under the CGST Act. However, it cannot enable issuing notices or orders against a non-existent entity, as the liabilities would transpose to the amalgamated entity. Consequently, the impugned SCN and order were quashed, and the petition was allowed.
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