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...
HC ruled in favor of the appellant regarding classification and taxation of non-woven fabric and PPSB bed sheets under GST. The court confirmed non-woven fabric made from manmade filament is correctly classified under Chapter 56 (HSN 75603) attracting 12% GST instead of 18%. For PPSB bed sheets, the court rejected revenue's attempt to shift burden of proof to appellant and found classification under HSN 6304 appropriate. The court set aside the single bench's remand order, directed immediate processing of refund application with statutory interest, noting that fresh consideration was unnecessary given clear legal position favoring appellant. The original writ petition was allowed, providing definitive resolution on classification disputes.
HC ruled in favor of the appellant regarding classification and taxation of non-woven fabric and PPSB bed sheets under GST. The court confirmed non-woven fabric made from manmade filament is correctly classified under Chapter 56 (HSN 75603) attracting 12% GST instead of 18%. For PPSB bed sheets, the court rejected revenue's attempt to shift burden of proof to appellant and found classification under HSN 6304 appropriate. The court set aside the single bench's remand order, directed immediate processing of refund application with statutory interest, noting that fresh consideration was unnecessary given clear legal position favoring appellant. The original writ petition was allowed, providing definitive resolution on classification disputes.
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