Functional comparability under TNMM requires transaction-specific FAR analysis before benchmarking business-support services provided to associated en...
Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Mobile-phone electronic evidence failed to establish customs undervaluation, while duty survived on non-authentic origin certificates without importer...
Automotive radio classification treats integrated infotainment features as supplementary, placing complete and qualifying unassembled units under the ...
Separate corporate personality prevents directors from being personally liable for company deposits without a guarantee or independent legal undertaki...
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GST audit commencement under the Explanation to Section 65(4) is reckoned from the later of record furnishing and on-site institution at the registered person's business premises. An audit following prior production of records therefore remains within time if completed within the statutory period measured from on-site commencement. Rule 101(4) requires the registered person to receive an opportunity to object to discrepancies and have those objections considered before audit findings are finalised. Audit observations seeking a response are not final findings and cannot properly support a show cause notice before that procedure is completed. Objections must be received and considered before fresh finalisation of the audit.
GST audit commencement under the Explanation to Section 65(4) is reckoned from the later of record furnishing and on-site institution at the registered person's business premises. An audit following prior production of records therefore remains within time if completed within the statutory period measured from on-site commencement. Rule 101(4) requires the registered person to receive an opportunity to object to discrepancies and have those objections considered before audit findings are finalised. Audit observations seeking a response are not final findings and cannot properly support a show cause notice before that procedure is completed. Objections must be received and considered before fresh finalisation of the audit.
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