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 petition and set aside the impugned administrative order dated 25-12-2023 and the Demand-cum-Show Cause Notice dated 05-12-2022, holding that amendments effected by the Finance (No.2) Act, 2024-given retrospective effect from 01-07-2017-have rendered proceedings against the petitioner redundant. The court applied amended Section 16 of the CGST Act, 2017 (including newly incorporated sub-sec. (5)), observing that notwithstanding sec. 16(4), a registered person may avail Input Tax Credit for invoices/debit notes pertaining to FY 2017-18 through 2020-21 by filing any return under sec. 39 up to 30 Nov 2021. Petition disposed.
The HC allowed the petition and set aside the impugned administrative order dated 25-12-2023 and the Demand-cum-Show Cause Notice dated 05-12-2022, holding that amendments effected by the Finance (No.2) Act, 2024-given retrospective effect from 01-07-2017-have rendered proceedings against the petitioner redundant. The court applied amended Section 16 of the CGST Act, 2017 (including newly incorporated sub-sec. (5)), observing that notwithstanding sec. 16(4), a registered person may avail Input Tax Credit for invoices/debit notes pertaining to FY 2017-18 through 2020-21 by filing any return under sec. 39 up to 30 Nov 2021. Petition disposed.
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