Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
HC invalidated provisional attachment of petitioner's bank account under Section 83 of MGST Act 2017. Court emphasized the draconian nature of provisional attachment powers, requiring strict fulfillment of statutory conditions and proper formation of Commissioner's opinion to protect revenue interests. The Joint Commissioner's order failed to demonstrate adequate material basis for concluding petitioner would defeat potential tax demands. The mere reference to GST Council's recommended amendment regarding "plant and machinery" terminology in Section 17(5)(d) was insufficient justification. Court found the attachment unjustified due to lack of substantive reasoning and evidentiary support. Petition disposed of with attachment order quashed.
HC invalidated provisional attachment of petitioner's bank account under Section 83 of MGST Act 2017. Court emphasized the draconian nature of provisional attachment powers, requiring strict fulfillment of statutory conditions and proper formation of Commissioner's opinion to protect revenue interests. The Joint Commissioner's order failed to demonstrate adequate material basis for concluding petitioner would defeat potential tax demands. The mere reference to GST Council's recommended amendment regarding "plant and machinery" terminology in Section 17(5)(d) was insufficient justification. Court found the attachment unjustified due to lack of substantive reasoning and evidentiary support. Petition disposed of with attachment order quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
