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...
HC allowed the petitioner's refund claim, holding that the rejection of Rs. 2,195/- by the respondent was improper and contrary to the budgetary support scheme notification. The court determined that the petitioner was entitled to budgetary support calculated at 58% of central tax paid through cash ledger and 29% of IGST paid, after input tax credit utilization. The HC directed the respondent to release the inadmissible amount for the quarter January 2022 to March 2022, finding no justification for the partial claim rejection.
HC allowed the petitioner's refund claim, holding that the rejection of Rs. 2,195/- by the respondent was improper and contrary to the budgetary support scheme notification. The court determined that the petitioner was entitled to budgetary support calculated at 58% of central tax paid through cash ledger and 29% of IGST paid, after input tax credit utilization. The HC directed the respondent to release the inadmissible amount for the quarter January 2022 to March 2022, finding no justification for the partial claim rejection.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
