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 disposed the writ petition and directed that the petitioner, whose GST registration was cancelled under Section 29(2)(c) for non-filing of returns for six months, may seek restoration by approaching the duly empowered officer within two months. If the petitioner furnishes all pending returns and makes full payment of tax, interest and late fees as required by the proviso to sub-rule (4) of Rule 22, the officer may drop proceedings and pass an appropriate order in Form GST REG-20. The Court observed cancellation under Section 29(2)(c) has serious civil consequences and left restoration to the statutory procedure and discretion of the competent officer upon compliance.
The HC disposed the writ petition and directed that the petitioner, whose GST registration was cancelled under Section 29(2)(c) for non-filing of returns for six months, may seek restoration by approaching the duly empowered officer within two months. If the petitioner furnishes all pending returns and makes full payment of tax, interest and late fees as required by the proviso to sub-rule (4) of Rule 22, the officer may drop proceedings and pass an appropriate order in Form GST REG-20. The Court observed cancellation under Section 29(2)(c) has serious civil consequences and left restoration to the statutory procedure and discretion of the competent officer upon compliance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
