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 invalidated Notification No. 56/2023-Central Tax, which extended limitation periods under Section 168A of CGST Act for financial years 2018-19 and 2019-20. The court found the notification legally unsustainable, effectively setting aside the time limitation extension and consequently nullifying the subsequent demand order of Rs. 1,20,01,973 raised against the petitioner. The ruling emphasizes judicial scrutiny of administrative tax notifications and their compliance with statutory provisions, ultimately protecting the registered assessee's procedural rights by quashing the impugned notification.
HC invalidated Notification No. 56/2023-Central Tax, which extended limitation periods under Section 168A of CGST Act for financial years 2018-19 and 2019-20. The court found the notification legally unsustainable, effectively setting aside the time limitation extension and consequently nullifying the subsequent demand order of Rs. 1,20,01,973 raised against the petitioner. The ruling emphasizes judicial scrutiny of administrative tax notifications and their compliance with statutory provisions, ultimately protecting the registered assessee's procedural rights by quashing the impugned notification.
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