SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
The HC allowed the petition and set aside the impugned orders under section 129 of the CGST Act. The court found the transaction to be a bona fide bill-to-ship movement from Maharashtra to Uttar Pradesh, supported by tax invoice, e-way bill and GR, and recognized by the State and its circular. Seizure solely on account of an expired e-way bill did not establish mens rea to evade tax; the delay resulted from the driver's illness and no adverse material showed intent to evade. In absence of requisite culpable mental element, penalty and seizure proceedings were unsustainable and were quashed.
The HC allowed the petition and set aside the impugned orders under section 129 of the CGST Act. The court found the transaction to be a bona fide bill-to-ship movement from Maharashtra to Uttar Pradesh, supported by tax invoice, e-way bill and GR, and recognized by the State and its circular. Seizure solely on account of an expired e-way bill did not establish mens rea to evade tax; the delay resulted from the driver's illness and no adverse material showed intent to evade. In absence of requisite culpable mental element, penalty and seizure proceedings were unsustainable and were quashed.
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TaxTMI 
TaxTMI 
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