Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
HC ruled on GST rate applicability for works contract services. The retrospective reduction of GST rate from 18% to 12% recommended by GST Council on 5th August, 2017 was not legally binding until formal notification on 21st September, 2017. The court held that the original GST rate of 18% prescribed in the 8th July, 2017 notification remained valid for tenders submitted before the final notification date. The GST Council's recommendation alone cannot be construed as a statutory rate change, particularly considering constitutional provisions. Consequently, the petitioner's claim for retrospective rate reduction was rejected, and the petition was dismissed.
HC ruled on GST rate applicability for works contract services. The retrospective reduction of GST rate from 18% to 12% recommended by GST Council on 5th August, 2017 was not legally binding until formal notification on 21st September, 2017. The court held that the original GST rate of 18% prescribed in the 8th July, 2017 notification remained valid for tenders submitted before the final notification date. The GST Council's recommendation alone cannot be construed as a statutory rate change, particularly considering constitutional provisions. Consequently, the petitioner's claim for retrospective rate reduction was rejected, and the petition was dismissed.
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