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 nullified best judgment assessment under GST due to procedural irregularities. The court found the assessment order invalid as the tax authority failed to issue mandatory notice under Section 46 and did not provide an opportunity of hearing, thereby violating principles of natural justice. The assessment order lacked substantive material and reasoning required for Section 62 invocation. Consequently, both assessment orders dated 27.08.2019 and 29.01.2025 were quashed, emphasizing the necessity of procedural compliance in tax assessment proceedings.
HC nullified best judgment assessment under GST due to procedural irregularities. The court found the assessment order invalid as the tax authority failed to issue mandatory notice under Section 46 and did not provide an opportunity of hearing, thereby violating principles of natural justice. The assessment order lacked substantive material and reasoning required for Section 62 invocation. Consequently, both assessment orders dated 27.08.2019 and 29.01.2025 were quashed, emphasizing the necessity of procedural compliance in tax assessment proceedings.
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