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 held that once a Resolution Plan is approved under IBC Section 31(1), only debts specified in the plan remain payable, binding on all authorities. Tax proceedings relating to the period prior to plan approval stand extinguished. The impugned show cause notice and order under Section 73 of CGST Act for Financial Year 2019-20, issued after the Resolution Plan's approval on 26.10.2020, were deemed invalid and without jurisdiction. Consistent with Supreme Court precedent, the tax authorities cannot initiate or continue proceedings for pre-resolution plan dues. The petition was allowed, quashing the impugned SCN and order, effectively recognizing the clean slate principle post-corporate insolvency resolution process.
HC held that once a Resolution Plan is approved under IBC Section 31(1), only debts specified in the plan remain payable, binding on all authorities. Tax proceedings relating to the period prior to plan approval stand extinguished. The impugned show cause notice and order under Section 73 of CGST Act for Financial Year 2019-20, issued after the Resolution Plan's approval on 26.10.2020, were deemed invalid and without jurisdiction. Consistent with Supreme Court precedent, the tax authorities cannot initiate or continue proceedings for pre-resolution plan dues. The petition was allowed, quashing the impugned SCN and order, effectively recognizing the clean slate principle post-corporate insolvency resolution process.
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