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 quashed the penalty imposed for the delayed updating of the e-way bill, as the petitioner generated and produced an updated e-way bill before the seizure order was passed. The court found no evidence of intent to evade tax, a necessary element for penalty imposition under the GST Act. Physical verification revealed no discrepancies in the goods, and the petitioner's explanation of an accident causing delay was accepted. The HC held that mere expiry of the initial e-way bill does not constitute a contravention if a fresh e-way bill is generated in time. The impugned orders imposing penalties were set aside, and the writ petitions were allowed.
The HC quashed the penalty imposed for the delayed updating of the e-way bill, as the petitioner generated and produced an updated e-way bill before the seizure order was passed. The court found no evidence of intent to evade tax, a necessary element for penalty imposition under the GST Act. Physical verification revealed no discrepancies in the goods, and the petitioner's explanation of an accident causing delay was accepted. The HC held that mere expiry of the initial e-way bill does not constitute a contravention if a fresh e-way bill is generated in time. The impugned orders imposing penalties were set aside, and the writ petitions were allowed.
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