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 HC dismissed the writ petition challenging the order issued u/s 74 of the Central Goods and Services Tax Act, 2017. The HC held that the correctness of reasons for invoking Section 74 cannot be examined in a writ proceeding as those involve disputed facts. The appropriate remedy against an order u/s 74 is to prefer an appeal u/s 107 of the Act. The HC refused to exercise writ jurisdiction despite reliance on an instruction indicating Section 74 proceedings can be invoked only in case of fraud, willful misstatement or suppression of facts to evade tax.
The HC dismissed the writ petition challenging the order issued u/s 74 of the Central Goods and Services Tax Act, 2017. The HC held that the correctness of reasons for invoking Section 74 cannot be examined in a writ proceeding as those involve disputed facts. The appropriate remedy against an order u/s 74 is to prefer an appeal u/s 107 of the Act. The HC refused to exercise writ jurisdiction despite reliance on an instruction indicating Section 74 proceedings can be invoked only in case of fraud, willful misstatement or suppression of facts to evade tax.
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