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...
The HC quashed the impugned order for violating principles of natural justice by not providing proper show cause notice and opportunity of hearing u/ss 73 and 75(4) of CGST/AGST Act. It held that summary of show cause notice without mentioning reasons cannot initiate proceedings u/s 73. The attachment containing tax determination u/s 73(3) cannot substitute show cause notice under 73(1). Proper show cause notice with reasons, statement under 73(3), and final order must be issued and digitally signed as per Rule 26(3). The HC granted liberty to initiate fresh proceedings.
The HC quashed the impugned order for violating principles of natural justice by not providing proper show cause notice and opportunity of hearing u/ss 73 and 75(4) of CGST/AGST Act. It held that summary of show cause notice without mentioning reasons cannot initiate proceedings u/s 73. The attachment containing tax determination u/s 73(3) cannot substitute show cause notice under 73(1). Proper show cause notice with reasons, statement under 73(3), and final order must be issued and digitally signed as per Rule 26(3). The HC granted liberty to initiate fresh proceedings.
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