Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
HC quashed the Public Notice issued by the first respondent dated 12.02.2021 and allowed the petition. The court held the Notice conflicted with applicable customs guidance by treating local tax recovery inconsistently, and mischaracterised levy responsibilities: IGST paid on import is distinct from GST payable under the CGST regime on a subsequent auction sale. Upon transfer of title at auction the purchaser ceases to be an importer, and collection of GST on the bid price falls within GST law, not the issuing authority's competence. As the Notice contravened the statutory scheme governing customs and GST and was issued without jurisdiction, it was declared wholly without authority and set aside.
HC quashed the Public Notice issued by the first respondent dated 12.02.2021 and allowed the petition. The court held the Notice conflicted with applicable customs guidance by treating local tax recovery inconsistently, and mischaracterised levy responsibilities: IGST paid on import is distinct from GST payable under the CGST regime on a subsequent auction sale. Upon transfer of title at auction the purchaser ceases to be an importer, and collection of GST on the bid price falls within GST law, not the issuing authority's competence. As the Notice contravened the statutory scheme governing customs and GST and was issued without jurisdiction, it was declared wholly without authority and set aside.
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TaxTMI 
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