Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Recording of satisfaction in the assessment order is treated as a jurisdictional prerequisite for initiating penalty for cash receipts in contravention of the statutory banking-route rule; a vague reference to possible penalty proceedings is insufficient, and the defect cannot be cured later in the notice, penalty order or appeal. The Tribunal also held that the alleged contravention must be proved with independent and cogent evidence of the payer, date, amount and statutory threshold breach. Rejected books, estimated income and an uncorroborated admission of additional income were not enough. On that basis, the penalty was held unsustainable and deleted.
Recording of satisfaction in the assessment order is treated as a jurisdictional prerequisite for initiating penalty for cash receipts in contravention of the statutory banking-route rule; a vague reference to possible penalty proceedings is insufficient, and the defect cannot be cured later in the notice, penalty order or appeal. The Tribunal also held that the alleged contravention must be proved with independent and cogent evidence of the payer, date, amount and statutory threshold breach. Rejected books, estimated income and an uncorroborated admission of additional income were not enough. On that basis, the penalty was held unsustainable and deleted.
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