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...
The HC allowed the writ petition in part and disposed it with a mandatory direction: the respondents are ordered to enable facilities within one month to permit the petitioner to re-submit the TRAN-1 application with corrected entries and to furnish an opportunity to cure defects so the petitioner may claim transitional input tax credit for the pre-GST period. The court found the initial rejection resulted from the petitioner's erroneous data entry but held that mere procedural or software limitations do not warrant denial of substantive statutory relief; accordingly the petitioner retains the right to avail benefits under the transitional provisions upon compliance with the rectified submission.
The HC allowed the writ petition in part and disposed it with a mandatory direction: the respondents are ordered to enable facilities within one month to permit the petitioner to re-submit the TRAN-1 application with corrected entries and to furnish an opportunity to cure defects so the petitioner may claim transitional input tax credit for the pre-GST period. The court found the initial rejection resulted from the petitioner's erroneous data entry but held that mere procedural or software limitations do not warrant denial of substantive statutory relief; accordingly the petitioner retains the right to avail benefits under the transitional provisions upon compliance with the rectified submission.
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