Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
HC held that the impugned order dated 6 February 2025 was vitiated by breach of the statutory rules of natural justice, insofar as the petitioner was not afforded an opportunity for personal oral hearing after service of a show-cause notice and filing of a written reply; under Section 75 the rights to submit a written reply and to an oral hearing are distinct and independently enforceable. The HC set aside the impugned order and allowed the petition by way of remand, directing respondent No.2 to revisit the matter and pass a fresh order in accordance with the mandatory procedural requirements, thereby restoring the petitioner's entitlement to a fair hearing.
HC held that the impugned order dated 6 February 2025 was vitiated by breach of the statutory rules of natural justice, insofar as the petitioner was not afforded an opportunity for personal oral hearing after service of a show-cause notice and filing of a written reply; under Section 75 the rights to submit a written reply and to an oral hearing are distinct and independently enforceable. The HC set aside the impugned order and allowed the petition by way of remand, directing respondent No.2 to revisit the matter and pass a fresh order in accordance with the mandatory procedural requirements, thereby restoring the petitioner's entitlement to a fair hearing.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
