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 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.
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