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...
Capital gains must be computed under the integrated scheme of sections 45, 48 and 55, so the entire sale consideration cannot be taxed as long-term capital gain where the asset was acquired before 01.04.2001. The assessee was entitled to exercise the statutory option under section 55(2)(b) to adopt fair market value as on 01.04.2001 as the cost of acquisition, and the valuation reports filed through a Government Approved Valuer had to be examined on merits. The matter was remanded for verification of the valuation claims, including the MIDC transfer premium relating to leasehold rights, and for recomputation of capital gains after due hearing.
Capital gains must be computed under the integrated scheme of sections 45, 48 and 55, so the entire sale consideration cannot be taxed as long-term capital gain where the asset was acquired before 01.04.2001. The assessee was entitled to exercise the statutory option under section 55(2)(b) to adopt fair market value as on 01.04.2001 as the cost of acquisition, and the valuation reports filed through a Government Approved Valuer had to be examined on merits. The matter was remanded for verification of the valuation claims, including the MIDC transfer premium relating to leasehold rights, and for recomputation of capital gains after due hearing.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
