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...
The HC allowed the appeal and writ petition, holding that penalty under s.129 could not be imposed. The court found the appellant had produced requisite documentation (Form GST-MOV-01), an invoice from the job-worker, an e-way bill for stock transfer, and a stock transfer voucher corroborated by the transporter's document, demonstrating absence of mens rea to evade tax. The HC set aside the orders of the adjudicating and appellate authorities, deleted the penalty, and directed release/cancellation of the bank guarantee furnished in favour of the department. Given the factual matrix and documentary proof of lawful stock transfer from the job-worker to the appellant, no penal liability survived.
The HC allowed the appeal and writ petition, holding that penalty under s.129 could not be imposed. The court found the appellant had produced requisite documentation (Form GST-MOV-01), an invoice from the job-worker, an e-way bill for stock transfer, and a stock transfer voucher corroborated by the transporter's document, demonstrating absence of mens rea to evade tax. The HC set aside the orders of the adjudicating and appellate authorities, deleted the penalty, and directed release/cancellation of the bank guarantee furnished in favour of the department. Given the factual matrix and documentary proof of lawful stock transfer from the job-worker to the appellant, no penal liability survived.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
