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...
Section 194H was treated as inapplicable to prepaid distributor discounts, the controversy having already been covered by the Supreme Court decision cited in the text. On that basis, and noting that the refund application had been made and the revenue itself accepted that refund was due, the Court directed immediate release of the TDS refund. The department's plea that an outstanding demand under the TAN should be adjusted against the refund was left open for separate pursuit, and the petitioner was left free to contest any such demand in accordance with law. The refund was ordered to be released forthwith, without prejudice to either side's rights on the separate demand.
Section 194H was treated as inapplicable to prepaid distributor discounts, the controversy having already been covered by the Supreme Court decision cited in the text. On that basis, and noting that the refund application had been made and the revenue itself accepted that refund was due, the Court directed immediate release of the TDS refund. The department's plea that an outstanding demand under the TAN should be adjusted against the refund was left open for separate pursuit, and the petitioner was left free to contest any such demand in accordance with law. The refund was ordered to be released forthwith, without prejudice to either side's rights on the separate demand.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
