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...
Limitation for rectification was held to run from the operative reassessment order, because settlement under the DTVSV Scheme does not extinguish the reassessment order itself; the rectification application was therefore within time. The Tribunal also held that a pure legal claim based on facts already on record can be raised in rectification and appellate proceedings even without a revised return, and the Goetze restriction does not bind appellate authorities. Applying the purpose test, the fertilizer subsidy under the Nutrient Based Subsidy Policy was treated as a capital receipt, and as a non-taxable capital receipt it was excluded from book profit under section 115JB. Relief was allowed for one year and upheld for the other.
Limitation for rectification was held to run from the operative reassessment order, because settlement under the DTVSV Scheme does not extinguish the reassessment order itself; the rectification application was therefore within time. The Tribunal also held that a pure legal claim based on facts already on record can be raised in rectification and appellate proceedings even without a revised return, and the Goetze restriction does not bind appellate authorities. Applying the purpose test, the fertilizer subsidy under the Nutrient Based Subsidy Policy was treated as a capital receipt, and as a non-taxable capital receipt it was excluded from book profit under section 115JB. Relief was allowed for one year and upheld for the other.
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