Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
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A HC held that the retrospective insertion of Section 16(5), with a non obstante clause overriding Section 16(4), permitted a registered person to avail input tax credit for the specified financial years if the Section 39 return was filed up to 30.11.2021. Because the return here had been filed on 28.11.2020 for the January to March 2020 period, the claim fell within that extended statutory window and could not be rejected as time-barred under Section 16(4). The impugned order and summary order were set aside, and the matter was remitted for fresh adjudication under Section 16(5), leaving other contentions open.
A HC held that the retrospective insertion of Section 16(5), with a non obstante clause overriding Section 16(4), permitted a registered person to avail input tax credit for the specified financial years if the Section 39 return was filed up to 30.11.2021. Because the return here had been filed on 28.11.2020 for the January to March 2020 period, the claim fell within that extended statutory window and could not be rejected as time-barred under Section 16(4). The impugned order and summary order were set aside, and the matter was remitted for fresh adjudication under Section 16(5), leaving other contentions open.
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