Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Petitioner challenged confirmation of a show-cause proposal for reversal of erroneously availed Input Tax Credit; court noted petitioner purportedly reversed the ineligible credit and remitted the matter for fresh adjudication to determine whether interest and penalty are payable. The court directed the respondent to apply the post Finance Act 2022 amendment limiting interest under Section 50 to the cash component of tax and to reconsider penalty liability under the GST enactments (penalty provision invoked in the impugned order). Petitioner must file a reply with documents to the show-cause within 30 days; writ petition disposed accordingly.
Petitioner challenged confirmation of a show-cause proposal for reversal of erroneously availed Input Tax Credit; court noted petitioner purportedly reversed the ineligible credit and remitted the matter for fresh adjudication to determine whether interest and penalty are payable. The court directed the respondent to apply the post Finance Act 2022 amendment limiting interest under Section 50 to the cash component of tax and to reconsider penalty liability under the GST enactments (penalty provision invoked in the impugned order). Petitioner must file a reply with documents to the show-cause within 30 days; writ petition disposed accordingly.
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