Transfer pricing adjustments for software services, corporate guarantees, expense characterisation and foreign tax credit affirmed under arm's length ...
Scientific Research approval for Sikshya O Anusandhan under section 35(1)(ii) granted subject to reporting, certification, and compliance requirements...
Blocking of the electronic credit ledger was challenged while parallel proceedings imposing tax, interest, fee and penalty under statutory tax provisions were pending; the petitioner's failure to disclose those proceedings in the writ was held material and counselling non-interference by the writ forum. Because the re-blocking related to an assessment and penalty demand of substantial amount and the statutory one year period since initial blocking had not expired, the court declined to interfere and dismissed the writ, leaving the statutory adjudication and credit availability/utilisation to proceed.
Blocking of the electronic credit ledger was challenged while parallel proceedings imposing tax, interest, fee and penalty under statutory tax provisions were pending; the petitioner's failure to disclose those proceedings in the writ was held material and counselling non-interference by the writ forum. Because the re-blocking related to an assessment and penalty demand of substantial amount and the statutory one year period since initial blocking had not expired, the court declined to interfere and dismissed the writ, leaving the statutory adjudication and credit availability/utilisation to proceed.
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