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 invalidated goods seizure due to procedural non-compliance with GST Act. The court directed authorities to: (i) issue Section 129(3) notice within two days, (ii) ascertain tax documents within three days, (iii) provide notice and opportunity to petitioner, (iv) release petitioner's goods under Section 129(1), and (v) initiate Section 130 proceedings only after completing prescribed steps. The ruling emphasized strict adherence to legal procedures and mandated that tax authorities must follow proper protocols during goods confiscation, highlighting the need for systematic training and procedural sensitization among enforcement officers.
HC invalidated goods seizure due to procedural non-compliance with GST Act. The court directed authorities to: (i) issue Section 129(3) notice within two days, (ii) ascertain tax documents within three days, (iii) provide notice and opportunity to petitioner, (iv) release petitioner's goods under Section 129(1), and (v) initiate Section 130 proceedings only after completing prescribed steps. The ruling emphasized strict adherence to legal procedures and mandated that tax authorities must follow proper protocols during goods confiscation, highlighting the need for systematic training and procedural sensitization among enforcement officers.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
