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...
The HC dismissed the writ petition challenging GST interest and penalty demands. The petitioner paid disputed tax belatedly, resulting in interest levy under Section 50(1) CGST/TNGST Act, 2017 r/w Rule 88B CGST Rules, 2017, which the Court upheld as non-interferable. Regarding the penalty of Rs. 5,72,052/- imposed under Section 73(9) r/w Section 122(2)(a) CGST/TNGST Act, 2017, the HC granted liberty to challenge through statutory appeal under Section 107, subject to 10% pre-deposit requirement within 30 days. The Appellate Commissioner was directed to consider the appeal without reference to limitation. The Court declined interference on natural justice grounds at writ stage, leaving the penalty issue for appellate adjudication while confirming the interest demand.
The HC dismissed the writ petition challenging GST interest and penalty demands. The petitioner paid disputed tax belatedly, resulting in interest levy under Section 50(1) CGST/TNGST Act, 2017 r/w Rule 88B CGST Rules, 2017, which the Court upheld as non-interferable. Regarding the penalty of Rs. 5,72,052/- imposed under Section 73(9) r/w Section 122(2)(a) CGST/TNGST Act, 2017, the HC granted liberty to challenge through statutory appeal under Section 107, subject to 10% pre-deposit requirement within 30 days. The Appellate Commissioner was directed to consider the appeal without reference to limitation. The Court declined interference on natural justice grounds at writ stage, leaving the penalty issue for appellate adjudication while confirming the interest demand.
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