Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Where the authorities were already aware of the relevant period when issuing the show cause notice, failure to quantify interest in that notice was held to bar its later inclusion in the adjudication order, because the amount of tax, interest and penalty demanded cannot exceed what is specified in the notice. The provision permitting interest to be imposed even if not stated in the order was found inapplicable, as it addresses omission in the adjudication order and not omission in the show cause notice itself. On that basis, the interest demand and the consequential notice and order were quashed, with liberty to issue a fresh notice in accordance with law.
Where the authorities were already aware of the relevant period when issuing the show cause notice, failure to quantify interest in that notice was held to bar its later inclusion in the adjudication order, because the amount of tax, interest and penalty demanded cannot exceed what is specified in the notice. The provision permitting interest to be imposed even if not stated in the order was found inapplicable, as it addresses omission in the adjudication order and not omission in the show cause notice itself. On that basis, the interest demand and the consequential notice and order were quashed, with liberty to issue a fresh notice in accordance with law.
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