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...
Laundry soap was treated as distinct from toilet soap under the common parlance test and the Customs Tariff structure, because toilet soap is for personal cleansing while laundry soap is for washing clothes, and BIS specifications showed material differences in composition and characteristics. Occasional dual use did not change the product identity, so laundry soap could not be brought within the concessional entry for toilet soap. Accordingly, laundry soap bars weighing less than 500 grams were classified under tariff item 34011942 as other soap and attracted GST at 9% CGST and 9% SGST under serial no. 66 of Schedule II, rather than the concessional rate for toilet soap.
Laundry soap was treated as distinct from toilet soap under the common parlance test and the Customs Tariff structure, because toilet soap is for personal cleansing while laundry soap is for washing clothes, and BIS specifications showed material differences in composition and characteristics. Occasional dual use did not change the product identity, so laundry soap could not be brought within the concessional entry for toilet soap. Accordingly, laundry soap bars weighing less than 500 grams were classified under tariff item 34011942 as other soap and attracted GST at 9% CGST and 9% SGST under serial no. 66 of Schedule II, rather than the concessional rate for toilet soap.
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