Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The High Court held that a belated GST appeal concerning reconciliation of input tax credit mismatch could not be rejected on limitation alone where the records showed possible inconsistency in IGST, CGST and SGST credit availment and the authorities had not verified whether the disputed credits and payments were correctly accounted for. Because factual reconciliation was necessary to determine whether excess or short credit had been availed and whether the claimed payments had been given proper effect, the matter was remitted to the appellate authority for fresh disposal on merits without reference to limitation, subject to an additional deposit by the petitioner. If that condition was not met, the authorities were left free to proceed in accordance with law.
The High Court held that a belated GST appeal concerning reconciliation of input tax credit mismatch could not be rejected on limitation alone where the records showed possible inconsistency in IGST, CGST and SGST credit availment and the authorities had not verified whether the disputed credits and payments were correctly accounted for. Because factual reconciliation was necessary to determine whether excess or short credit had been availed and whether the claimed payments had been given proper effect, the matter was remitted to the appellate authority for fresh disposal on merits without reference to limitation, subject to an additional deposit by the petitioner. If that condition was not met, the authorities were left free to proceed in accordance with law.
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