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...
HC quashed the impugned assessment order dated 17.08.2024 insofar as it denied the petitioner's claim for input tax credit under Section 16(4) of the CGST Act as time-barred, holding the order was passed without affording an effective opportunity of personal hearing. The court found mere upload of a show-cause notice on the GST portal, without exploring alternative modes of service under Section 169 where no response was received, amounted to defective service and a breach of natural justice. The HC disposed of the petition, setting aside the impugned order to the extent indicated and warning against sustaining ex parte assessments founded on empty formalities.
HC quashed the impugned assessment order dated 17.08.2024 insofar as it denied the petitioner's claim for input tax credit under Section 16(4) of the CGST Act as time-barred, holding the order was passed without affording an effective opportunity of personal hearing. The court found mere upload of a show-cause notice on the GST portal, without exploring alternative modes of service under Section 169 where no response was received, amounted to defective service and a breach of natural justice. The HC disposed of the petition, setting aside the impugned order to the extent indicated and warning against sustaining ex parte assessments founded on empty formalities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
