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...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The HC set aside the impugned assessment orders reversing ITC claims based on discrepancies between Form GSTR 2A and GSTR 3B, recognizing that Form GSTR-3B was initially a provisional return and later regularized, with the automated reconciliation system envisaged under Sections 37 to 39 being discontinued. The Court held that non-operability of statutory forms GSTR 2 and 3 does not preclude ITC claims, referencing the apex court's ruling affirming the integrity of the electronic credit ledger. It was noted that ITC entitlement is contingent upon compliance with the amended Section 16(2)(aa) provisions. The HC disposed of the writ petitions, directing the tax authority to reconsider ITC claims per relevant circulars and statutory amendments, granting petitioners a reasonable hearing opportunity within four months from web copy upload, without awaiting certified copies.
The HC set aside the impugned assessment orders reversing ITC claims based on discrepancies between Form GSTR 2A and GSTR 3B, recognizing that Form GSTR-3B was initially a provisional return and later regularized, with the automated reconciliation system envisaged under Sections 37 to 39 being discontinued. The Court held that non-operability of statutory forms GSTR 2 and 3 does not preclude ITC claims, referencing the apex court's ruling affirming the integrity of the electronic credit ledger. It was noted that ITC entitlement is contingent upon compliance with the amended Section 16(2)(aa) provisions. The HC disposed of the writ petitions, directing the tax authority to reconsider ITC claims per relevant circulars and statutory amendments, granting petitioners a reasonable hearing opportunity within four months from web copy upload, without awaiting certified copies.
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