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 ruled that retrospective cancellation of GST registration requires proper justification and adherence to natural justice principles. Following Riddhi Siddhi Enterprises precedent, the Court held that Section 29 of CGST Act allows retrospective cancellation only when deemed fit based on objective criteria, not mechanically. The authority's failure to provide reasons in the Show Cause Notice supporting retrospective cancellation and failure to give prior notice of such intent invalidated the action. The Court modified the impugned order, directing that cancellation would take effect from the SCN date (25 October 2021) rather than the retrospective date (23 October 2020) originally imposed.
The HC ruled that retrospective cancellation of GST registration requires proper justification and adherence to natural justice principles. Following Riddhi Siddhi Enterprises precedent, the Court held that Section 29 of CGST Act allows retrospective cancellation only when deemed fit based on objective criteria, not mechanically. The authority's failure to provide reasons in the Show Cause Notice supporting retrospective cancellation and failure to give prior notice of such intent invalidated the action. The Court modified the impugned order, directing that cancellation would take effect from the SCN date (25 October 2021) rather than the retrospective date (23 October 2020) originally imposed.
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