Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
HC held that Section 75(12) of WBGST & CGST Act, 2017 cannot be invoked when self-assessed tax under Section 37 is already included in returns under Section 39. The court quashed the demand notice raised by tax authorities, finding that alternative legal provisions under Sections 65, 66, 67, 73, or 74 should have been pursued if discrepancies were identified. The consequential demand for tax period 2020-21 was set aside, effectively ruling in favor of the petitioner and invalidating the original order dated 20th December, 2024.
HC held that Section 75(12) of WBGST & CGST Act, 2017 cannot be invoked when self-assessed tax under Section 37 is already included in returns under Section 39. The court quashed the demand notice raised by tax authorities, finding that alternative legal provisions under Sections 65, 66, 67, 73, or 74 should have been pursued if discrepancies were identified. The consequential demand for tax period 2020-21 was set aside, effectively ruling in favor of the petitioner and invalidating the original order dated 20th December, 2024.
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