Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
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...
The Tribunal treated the Rule 128 timeline for Standing Committee reference as directory, so procedural delay did not defeat anti-profiteering proceedings. It held that the respondent failed to pass on additional input tax credit to homebuyers, and that the profiteered amount had to include the GST component because buyers paid the higher price inclusive of tax. Interest was upheld as payable under the Rules from the dates of collection until refund. Penalty was attracted prospectively only for the period from 1 January 2020 onward, subject to the statutory relief if the amount is deposited within thirty days.
The Tribunal treated the Rule 128 timeline for Standing Committee reference as directory, so procedural delay did not defeat anti-profiteering proceedings. It held that the respondent failed to pass on additional input tax credit to homebuyers, and that the profiteered amount had to include the GST component because buyers paid the higher price inclusive of tax. Interest was upheld as payable under the Rules from the dates of collection until refund. Penalty was attracted prospectively only for the period from 1 January 2020 onward, subject to the statutory relief if the amount is deposited within thirty days.
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