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 dismissed petition challenging denial of compensation cess refund on exported goods. Court held refund claims must be filed within two years from relevant date as per Section 54 and Explanation 2 of GST Act. For exported goods, relevant date is when goods are loaded for shipping, not date of filing returns. Petitioner's claim was time-barred as application was filed beyond two-year limitation period calculated from shipping date. Exception for extended limitation through writ petition applies only when underlying tax provision is challenged as unconstitutional, which wasn't applicable here. Authority correctly rejected refund claim as time-barred under Section 54(1) of GST Act.
HC dismissed petition challenging denial of compensation cess refund on exported goods. Court held refund claims must be filed within two years from relevant date as per Section 54 and Explanation 2 of GST Act. For exported goods, relevant date is when goods are loaded for shipping, not date of filing returns. Petitioner's claim was time-barred as application was filed beyond two-year limitation period calculated from shipping date. Exception for extended limitation through writ petition applies only when underlying tax provision is challenged as unconstitutional, which wasn't applicable here. Authority correctly rejected refund claim as time-barred under Section 54(1) of GST Act.
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