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...
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The HC upheld tax and penalty under GST Act Section 129 after goods were found at a different destination than documented. The court determined that the petitioner failed to comply with Rule 55 requirements for issuing proper job work challans. Upon examining the challan produced by the ACSC, the court noted it lacked several mandatory descriptions prescribed under Rule 55. This incomplete documentation constituted a clear contravention of the Rules. The court rejected the petitioner's argument that the proceedings were arbitrary, finding that the violation of Rule 55 justified the tax and penalty imposition under Section 129 of the GST Act. Petition dismissed.
The HC upheld tax and penalty under GST Act Section 129 after goods were found at a different destination than documented. The court determined that the petitioner failed to comply with Rule 55 requirements for issuing proper job work challans. Upon examining the challan produced by the ACSC, the court noted it lacked several mandatory descriptions prescribed under Rule 55. This incomplete documentation constituted a clear contravention of the Rules. The court rejected the petitioner's argument that the proceedings were arbitrary, finding that the violation of Rule 55 justified the tax and penalty imposition under Section 129 of the GST Act. Petition dismissed.
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