Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The HC held that the petition challenging the cancellation of GST registration is maintainable despite the availability of an alternative remedy, given the nascent stage of the Act and the complexities faced by a layperson. The Court emphasized that cancellation directly impacts the petitioner's livelihood and State revenue, noting the constitutional right to carry on business subject to statutory compliance. The delay in invoking Section 30 of the Act was condoned in the interest of justice. The petitioner was granted three weeks to file an application under Section 30 along with all pending returns up to the cancellation date. The department is directed to consider and dispose of the application within three weeks thereafter. The petition was disposed of accordingly.
The HC held that the petition challenging the cancellation of GST registration is maintainable despite the availability of an alternative remedy, given the nascent stage of the Act and the complexities faced by a layperson. The Court emphasized that cancellation directly impacts the petitioner's livelihood and State revenue, noting the constitutional right to carry on business subject to statutory compliance. The delay in invoking Section 30 of the Act was condoned in the interest of justice. The petitioner was granted three weeks to file an application under Section 30 along with all pending returns up to the cancellation date. The department is directed to consider and dispose of the application within three weeks thereafter. The petition was disposed of accordingly.
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