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...
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
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