Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
HC determined that mere non-completion of part-B of e-way bill does not automatically warrant penalty under Section 129 of U.P. G.S.T. Act, 2017. The court found no evidence of tax evasion attempt by the petitioner. Without a specific finding regarding intentional tax evasion, the penalty levy was deemed unsustainable. Consistent with prior judicial precedents, the court emphasized that procedural non-compliance alone cannot justify punitive action. The impugned order was consequently set aside, and the petition was allowed, effectively quashing the penalty imposed by the tax authorities.
HC determined that mere non-completion of part-B of e-way bill does not automatically warrant penalty under Section 129 of U.P. G.S.T. Act, 2017. The court found no evidence of tax evasion attempt by the petitioner. Without a specific finding regarding intentional tax evasion, the penalty levy was deemed unsustainable. Consistent with prior judicial precedents, the court emphasized that procedural non-compliance alone cannot justify punitive action. The impugned order was consequently set aside, and the petition was allowed, effectively quashing the penalty imposed by the tax authorities.
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