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Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
HC held that the assessment proceedings under Section 73 of the AGST Act, 2017 were vitiated for violation of principles of natural justice, as no proper and prior show cause notice under Section 73(1) was issued to the petitioner. Service of only a Summary of Show Cause Notice in Form GST DRC-01 and an Attachment to Determination of Tax was held not to satisfy the mandatory requirements of Section 73(1) to (8), (10), (11) and Rule 142(1) of the AGST Rules, 2017. A summary was expressly held not to be a substitute for a substantive show cause notice by the proper officer. Consequently, the impugned order dated 25.02.2025 passed under Section 73(9) was declared unsustainable in law, set aside and quashed. The writ petition filed by the anonymized petitioner was accordingly disposed of.
HC held that the assessment proceedings under Section 73 of the AGST Act, 2017 were vitiated for violation of principles of natural justice, as no proper and prior show cause notice under Section 73(1) was issued to the petitioner. Service of only a Summary of Show Cause Notice in Form GST DRC-01 and an Attachment to Determination of Tax was held not to satisfy the mandatory requirements of Section 73(1) to (8), (10), (11) and Rule 142(1) of the AGST Rules, 2017. A summary was expressly held not to be a substitute for a substantive show cause notice by the proper officer. Consequently, the impugned order dated 25.02.2025 passed under Section 73(9) was declared unsustainable in law, set aside and quashed. The writ petition filed by the anonymized petitioner was accordingly disposed of.
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