Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
HC ruled that detention of vehicle under Section 129 of CGST Act, 2017 was invalid. The statutory provision requires actual transportation of goods in contravention of law, which was absent in this case. Mere possession of an e-way bill without corresponding goods movement does not justify vehicle impoundment. The court strictly interpreted the penal provision, emphasizing that detention requires substantive evidence of statutory violation. Consequently, the court directed immediate release of the detained vehicle, finding the respondents' action ultra vires and without jurisdictional basis.
HC ruled that detention of vehicle under Section 129 of CGST Act, 2017 was invalid. The statutory provision requires actual transportation of goods in contravention of law, which was absent in this case. Mere possession of an e-way bill without corresponding goods movement does not justify vehicle impoundment. The court strictly interpreted the penal provision, emphasizing that detention requires substantive evidence of statutory violation. Consequently, the court directed immediate release of the detained vehicle, finding the respondents' action ultra vires and without jurisdictional basis.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
