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 impugned order passed by the Assistant Commissioner, DGST for non-application of mind and violation of principles of natural justice. The order had discarded the petitioner's reply to the show-cause notice alleging non-declaration of output tax liability without assigning any reasons. The Court held that show-cause notices imposing further liabilities, including penalties, must be decided on merits and not in a cavalier manner. The challenge to the validity of certain notifications issued u/s 168A of the CGST Act was kept open to be raised afresh if required.
The High Court quashed the impugned order passed by the Assistant Commissioner, DGST for non-application of mind and violation of principles of natural justice. The order had discarded the petitioner's reply to the show-cause notice alleging non-declaration of output tax liability without assigning any reasons. The Court held that show-cause notices imposing further liabilities, including penalties, must be decided on merits and not in a cavalier manner. The challenge to the validity of certain notifications issued u/s 168A of the CGST Act was kept open to be raised afresh if required.
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