Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
HC upheld the cancellation of taxpayer's registration due to non-filing of returns for six consecutive months. Despite filing returns after the show cause notice, the taxpayer failed to submit returns for all six months with requisite tax interest and late fees. The court emphasized that piecemeal return filing does not satisfy the statutory requirement under Rule 22(4) of CGST Rules. The cause of action for registration cancellation remained valid since the taxpayer did not comprehensively rectify the default by submitting all pending returns and associated financial obligations. Consequently, the registration cancellation order was deemed legally justified and the petition was dismissed.
HC upheld the cancellation of taxpayer's registration due to non-filing of returns for six consecutive months. Despite filing returns after the show cause notice, the taxpayer failed to submit returns for all six months with requisite tax interest and late fees. The court emphasized that piecemeal return filing does not satisfy the statutory requirement under Rule 22(4) of CGST Rules. The cause of action for registration cancellation remained valid since the taxpayer did not comprehensively rectify the default by submitting all pending returns and associated financial obligations. Consequently, the registration cancellation order was deemed legally justified and the petition was dismissed.
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