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...
GST adjudication conducted ex parte without fixing the date, time or venue for personal hearing violated the mandatory hearing requirement under Section 75(4) and the principles of natural justice. The Court held that the right to an oral hearing is independent of filing a written reply, and mere non-participation in response to the notice did not amount to waiver. The assessment order was therefore vitiated, and the appellate orders rejecting the challenge on limitation could not stand. The impugned orders were set aside and the matter was remitted to the proper officer for fresh adjudication after due notice and opportunity of hearing.
GST adjudication conducted ex parte without fixing the date, time or venue for personal hearing violated the mandatory hearing requirement under Section 75(4) and the principles of natural justice. The Court held that the right to an oral hearing is independent of filing a written reply, and mere non-participation in response to the notice did not amount to waiver. The assessment order was therefore vitiated, and the appellate orders rejecting the challenge on limitation could not stand. The impugned orders were set aside and the matter was remitted to the proper officer for fresh adjudication after due notice and opportunity of hearing.
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