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 appellants were held eligible for refund of Cenvat credit u/s 142(3) of the CGST Act, 2017. The Tribunal ruled that Section 142(8)(a) was wrongly invoked to reject the refund claim, as it pertains only to input tax credit and not Cenvat credit for the pre-GST period. Payment u/s 73(3) of the Finance Act, 1994 did not impact admissibility of the Cenvat credit. Rule 9(1)(bb) of the Cenvat Credit Rules, 2004 was inapplicable in this reverse charge scenario without any show cause notice or adjudication order. Consequently, the impugned order was set aside, and the appeal was allowed.
The appellants were held eligible for refund of Cenvat credit u/s 142(3) of the CGST Act, 2017. The Tribunal ruled that Section 142(8)(a) was wrongly invoked to reject the refund claim, as it pertains only to input tax credit and not Cenvat credit for the pre-GST period. Payment u/s 73(3) of the Finance Act, 1994 did not impact admissibility of the Cenvat credit. Rule 9(1)(bb) of the Cenvat Credit Rules, 2004 was inapplicable in this reverse charge scenario without any show cause notice or adjudication order. Consequently, the impugned order was set aside, and the appeal was allowed.
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