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...
Transfer pricing benchmarking had to be confined to the assessee's international transactions where segmental results for associated enterprise and non-associated enterprise dealings were available and capable of segregation. Entity-level margins could not be used merely because the segmental accounts were unaudited, and the benchmarking was therefore directed to be on segmental profitability. In applying external TNMM, comparables had to satisfy functional, asset and risk similarity; retail businesses, fabric or yarn manufacturers, contract socks manufacturers, leather garment manufacturers, and companies with merger or acquisition during the year were excluded, and exporters with export revenue below 75% of sales were also filtered out. The TPO was directed to redo comparability analysis and allow the +/- 5% tolerance under section 92C(2).
Transfer pricing benchmarking had to be confined to the assessee's international transactions where segmental results for associated enterprise and non-associated enterprise dealings were available and capable of segregation. Entity-level margins could not be used merely because the segmental accounts were unaudited, and the benchmarking was therefore directed to be on segmental profitability. In applying external TNMM, comparables had to satisfy functional, asset and risk similarity; retail businesses, fabric or yarn manufacturers, contract socks manufacturers, leather garment manufacturers, and companies with merger or acquisition during the year were excluded, and exporters with export revenue below 75% of sales were also filtered out. The TPO was directed to redo comparability analysis and allow the +/- 5% tolerance under section 92C(2).
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