Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
HC held that the recovery of tax dues from the petitioner was premature and in violation of statutory provisions under Sections 78 and 79 of CGST/BGST Act, 2017. The Recovery Officer was mandated to wait three months from the date of service order before initiating recovery proceedings. The impugned orders rejecting Input Tax Credit claims were set aside due to retrospective amendment under Section 16(5). Respondent authorities were directed to refund the recovered amount of Rs.50,75,214/- within two weeks, with 12% per annum interest in case of default. The second appeal could not be preferred as the Tribunal was not constituted, effectively suspending the appeal timeline.
HC held that the recovery of tax dues from the petitioner was premature and in violation of statutory provisions under Sections 78 and 79 of CGST/BGST Act, 2017. The Recovery Officer was mandated to wait three months from the date of service order before initiating recovery proceedings. The impugned orders rejecting Input Tax Credit claims were set aside due to retrospective amendment under Section 16(5). Respondent authorities were directed to refund the recovered amount of Rs.50,75,214/- within two weeks, with 12% per annum interest in case of default. The second appeal could not be preferred as the Tribunal was not constituted, effectively suspending the appeal timeline.
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