SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
The HC, exercising extraordinary writ jurisdiction, set aside the impugned order refusing rectification under s.161 of the GST Act and ordered correction of a clerical/arithmetic error in the electronically filed figures whereby "Rs. 1,07,916.48" was erroneously recorded as "Rs. 1,07,91,648.00." The matter is remitted to the Assistant Commissioner (State Tax), CT & GST Circle, for consideration of the petition for rectification and for modification of the assessment order under s.73 accordingly. The authority is directed to permit the petitioner to rectify the mistake and give consequential effect to the correction within four weeks of receipt of this order. Petition disposed.
The HC, exercising extraordinary writ jurisdiction, set aside the impugned order refusing rectification under s.161 of the GST Act and ordered correction of a clerical/arithmetic error in the electronically filed figures whereby "Rs. 1,07,916.48" was erroneously recorded as "Rs. 1,07,91,648.00." The matter is remitted to the Assistant Commissioner (State Tax), CT & GST Circle, for consideration of the petition for rectification and for modification of the assessment order under s.73 accordingly. The authority is directed to permit the petitioner to rectify the mistake and give consequential effect to the correction within four weeks of receipt of this order. Petition disposed.
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