Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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HC invalidated the tax recovery action against the petitioner, finding the assessment order withdrawn under Section 62(2) as a matter of legal fiction. The court determined that since the original tax assessment order lost legal efficacy after the petitioner timely filed GSTR 3B and paid taxes within statutory period, the subsequent recovery proceedings were procedurally improper. The respondent tax authority acted ultra vires by initiating recovery without issuing prior notice, particularly after approximately five years from the original demand date. The HC directed respondent authorities to file their response within two weeks and scheduled further hearing.
HC invalidated the tax recovery action against the petitioner, finding the assessment order withdrawn under Section 62(2) as a matter of legal fiction. The court determined that since the original tax assessment order lost legal efficacy after the petitioner timely filed GSTR 3B and paid taxes within statutory period, the subsequent recovery proceedings were procedurally improper. The respondent tax authority acted ultra vires by initiating recovery without issuing prior notice, particularly after approximately five years from the original demand date. The HC directed respondent authorities to file their response within two weeks and scheduled further hearing.
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