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 the demand raised under the GST Act for Financial Year 2021 is impermissible and the impugned Order-in-Original dated 26 February 2025 is quashed and set aside. Applying the principle that upon the Adjudicating Authority's approval of a resolution plan all claims not incorporated in the plan are extinguished, the Court found that any proceedings or demands predating the NCLT approval (11 August 2023) cannot be initiated or continued. Accordingly, the Respondent-Authority lacked jurisdiction to prosecute or levy a demand for the pre-approval period; the petition is allowed and the impugned order is declared void to the extent it relates to periods prior to the resolution-plan approval.
HC held that the demand raised under the GST Act for Financial Year 2021 is impermissible and the impugned Order-in-Original dated 26 February 2025 is quashed and set aside. Applying the principle that upon the Adjudicating Authority's approval of a resolution plan all claims not incorporated in the plan are extinguished, the Court found that any proceedings or demands predating the NCLT approval (11 August 2023) cannot be initiated or continued. Accordingly, the Respondent-Authority lacked jurisdiction to prosecute or levy a demand for the pre-approval period; the petition is allowed and the impugned order is declared void to the extent it relates to periods prior to the resolution-plan approval.
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