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...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
HC allowed petition challenging tax determination order under GST Act. The court found the proper officer erroneously dismissed the taxpayer's rectification application without adequately examining the bonafide mistake in tax credit intimation. The HC held that when taxpayers demonstrate genuine errors and seek immediate rectification, they should not be penalized with exorbitant liabilities inconsistent with constitutional principles. The impugned order was set aside, directing the proper officer to reconsider the rectification application and reassess the tax liability with a comprehensive review of available records.
HC allowed petition challenging tax determination order under GST Act. The court found the proper officer erroneously dismissed the taxpayer's rectification application without adequately examining the bonafide mistake in tax credit intimation. The HC held that when taxpayers demonstrate genuine errors and seek immediate rectification, they should not be penalized with exorbitant liabilities inconsistent with constitutional principles. The impugned order was set aside, directing the proper officer to reconsider the rectification application and reassess the tax liability with a comprehensive review of available records.
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