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 the retrospective cancellation of GST registration due to procedural deficiencies in the show cause notice (SCN). The original SCN failed to disclose the intent for retrospective cancellation or provide supporting reasons, violating principles of natural justice. The Court determined that absence of prior notice regarding retrospective action rendered the cancellation order invalid from February 13, 2024. While upholding the cancellation itself, the Court modified the effective date to align with the SCN issuance date of November 7, 2024, ensuring procedural fairness and due process in administrative action.
HC invalidated the retrospective cancellation of GST registration due to procedural deficiencies in the show cause notice (SCN). The original SCN failed to disclose the intent for retrospective cancellation or provide supporting reasons, violating principles of natural justice. The Court determined that absence of prior notice regarding retrospective action rendered the cancellation order invalid from February 13, 2024. While upholding the cancellation itself, the Court modified the effective date to align with the SCN issuance date of November 7, 2024, ensuring procedural fairness and due process in administrative action.
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