Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
In transfer pricing comparability analysis for a manufacturing segment, the ITAT treated the Safe Harbour definitions of core and non-core auto components as a guiding aid for FAR analysis even though the assessee had not opted for Safe Harbour Rules. Because the assessee manufactured shock absorbers in the core auto component segment, only functionally similar comparables were acceptable. Helmet and accessory manufacturers, Eicher Motors, and Special Engineering Services were excluded for functional dissimilarity; Nifco was also excluded because its related party transactions exceeded 25%, despite otherwise being in the automotive component space.
In transfer pricing comparability analysis for a manufacturing segment, the ITAT treated the Safe Harbour definitions of core and non-core auto components as a guiding aid for FAR analysis even though the assessee had not opted for Safe Harbour Rules. Because the assessee manufactured shock absorbers in the core auto component segment, only functionally similar comparables were acceptable. Helmet and accessory manufacturers, Eicher Motors, and Special Engineering Services were excluded for functional dissimilarity; Nifco was also excluded because its related party transactions exceeded 25%, despite otherwise being in the automotive component space.
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