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 held that cancellation of the petitioner's GST registration was vitiated for failure to assign reasons and for breach of principles of natural justice. The court observed that under Section 29(2)(c) an empowered officer may cancel registration, and Rule 22(4) proviso permits the officer to drop cancellation proceedings and restore registration by issuing Form GST REG-20 where the person files all pending returns and pays tax dues with applicable interest and late fee. The writ petition was disposed of directing the petitioner to apply to the concerned authority within two months to seek restoration; the authority may consider dropping proceedings and pass the appropriate order upon compliance.
HC held that cancellation of the petitioner's GST registration was vitiated for failure to assign reasons and for breach of principles of natural justice. The court observed that under Section 29(2)(c) an empowered officer may cancel registration, and Rule 22(4) proviso permits the officer to drop cancellation proceedings and restore registration by issuing Form GST REG-20 where the person files all pending returns and pays tax dues with applicable interest and late fee. The writ petition was disposed of directing the petitioner to apply to the concerned authority within two months to seek restoration; the authority may consider dropping proceedings and pass the appropriate order upon compliance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
