Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
ITAT held that Rule 10CA is only a computational mechanism and does not cure functional dissimilarity, scale differences or segmental deficiencies; it therefore directed exclusion of Nihilent Technologies, Tata Elxsi, Cybage Software, Infosys, Larsen & Toubro Infotech and Wipro from the comparables set. It also held that a different financial year by itself does not vitiate comparability where public-domain data can be suitably extrapolated, and directed inclusion of R Systems International on relevant-year data. The Tribunal allowed working capital adjustment based on opening and closing balances from annual reports, and held that any separate receivables adjustment must be tested after such adjustment; if still required, interest should be benchmarked at LIBOR plus 200 basis points with a 60-day credit period.
ITAT held that Rule 10CA is only a computational mechanism and does not cure functional dissimilarity, scale differences or segmental deficiencies; it therefore directed exclusion of Nihilent Technologies, Tata Elxsi, Cybage Software, Infosys, Larsen & Toubro Infotech and Wipro from the comparables set. It also held that a different financial year by itself does not vitiate comparability where public-domain data can be suitably extrapolated, and directed inclusion of R Systems International on relevant-year data. The Tribunal allowed working capital adjustment based on opening and closing balances from annual reports, and held that any separate receivables adjustment must be tested after such adjustment; if still required, interest should be benchmarked at LIBOR plus 200 basis points with a 60-day credit period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
