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...
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
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