Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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Central GST authorities issued summons following a search operation, despite ongoing State GST proceedings. The HC held that statutory prohibition against parallel proceedings under Sections 73 and 74 specifically pertains to assessment proceedings, not investigative actions. Search-based summons are distinct from assessment proceedings as they aim to gather information potentially unavailable during original assessment. The Court distinguished between assessment proceedings and investigative measures, noting that Section 6(2)(b) applies to interrelated events in a particular chain. Since the search occurred after previous assessments, it constitutes a separate proceeding. The summons were deemed valid as investigative tools that may lead to future proceedings. Petition challenging the validity of CGST summons dismissed.
Central GST authorities issued summons following a search operation, despite ongoing State GST proceedings. The HC held that statutory prohibition against parallel proceedings under Sections 73 and 74 specifically pertains to assessment proceedings, not investigative actions. Search-based summons are distinct from assessment proceedings as they aim to gather information potentially unavailable during original assessment. The Court distinguished between assessment proceedings and investigative measures, noting that Section 6(2)(b) applies to interrelated events in a particular chain. Since the search occurred after previous assessments, it constitutes a separate proceeding. The summons were deemed valid as investigative tools that may lead to future proceedings. Petition challenging the validity of CGST summons dismissed.
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