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...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
HC dismissed petitioner's application under Section 161 of Goods and Services Act, 2017, holding that principles of natural justice are not mandatory when no actual rectification is performed and the applicant suffers no adverse impact. The court determined that the rectification provision requires adherence to natural justice only when specific conditions are met: (i) rectification is being carried out and (ii) such rectification potentially adversely affects the assessee. In this instance, the application was deemed vague and without substantive grounds, thus justifying rejection without a personal hearing.
HC dismissed petitioner's application under Section 161 of Goods and Services Act, 2017, holding that principles of natural justice are not mandatory when no actual rectification is performed and the applicant suffers no adverse impact. The court determined that the rectification provision requires adherence to natural justice only when specific conditions are met: (i) rectification is being carried out and (ii) such rectification potentially adversely affects the assessee. In this instance, the application was deemed vague and without substantive grounds, thus justifying rejection without a personal hearing.
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