Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The HC set aside the order dated 08.11.2023 regarding attachment of petitioner's bank property under CGST/KGST Act, 2017, remitting the matter back to the first respondent for fresh consideration. Despite petitioner's failure to respond to pre-intimation notice and show cause notice, the Court adopted a justice-oriented approach, accepting petitioner's claim that non-compliance stemmed from bona fide reasons and unavoidable circumstances. The petitioner was granted one more opportunity to submit a reply to the show cause notice, with the Court imposing costs of Rs.10,000/- payable to the High Court Advocate Welfare Fund. The petition was allowed by way of remand.
The HC set aside the order dated 08.11.2023 regarding attachment of petitioner's bank property under CGST/KGST Act, 2017, remitting the matter back to the first respondent for fresh consideration. Despite petitioner's failure to respond to pre-intimation notice and show cause notice, the Court adopted a justice-oriented approach, accepting petitioner's claim that non-compliance stemmed from bona fide reasons and unavoidable circumstances. The petitioner was granted one more opportunity to submit a reply to the show cause notice, with the Court imposing costs of Rs.10,000/- payable to the High Court Advocate Welfare Fund. The petition was allowed by way of remand.
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