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...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
The HC quashed the adjudication and summary orders for failure to consider the petitioner's annual returns for 2018-19 and 2019-20, relying solely on GSTR-2A and GSTR-3B. The court held that the respondents were obligated to evaluate the annual returns, reconcile ITC claims across years, and account for ITC reversals via DRC-03. The impugned order, premised on an alleged excess ITC claim without such comprehensive analysis, was unsustainable. The matter involved factual determinations requiring reappraisal and was accordingly remitted to respondent No. 2 for fresh consideration at the stage of replying to the show cause notice. The petition was allowed by way of remand.
The HC quashed the adjudication and summary orders for failure to consider the petitioner's annual returns for 2018-19 and 2019-20, relying solely on GSTR-2A and GSTR-3B. The court held that the respondents were obligated to evaluate the annual returns, reconcile ITC claims across years, and account for ITC reversals via DRC-03. The impugned order, premised on an alleged excess ITC claim without such comprehensive analysis, was unsustainable. The matter involved factual determinations requiring reappraisal and was accordingly remitted to respondent No. 2 for fresh consideration at the stage of replying to the show cause notice. The petition was allowed by way of remand.
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