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...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Transfer pricing re-characterisation of redeemable preference share subscription and redemption as loans was rejected because earlier decisions in the assessee's own case had already held that, absent material showing sham or concealment of the real character, the TPO could not disregard the apparent transaction or impute notional interest. The interest disallowance on advances to sister concerns also failed because the Tribunal found sufficient own funds on the balance sheets, giving rise to a presumption that the advances came from those funds; that factual finding was not shown to be perverse. Both appeals were dismissed.
Transfer pricing re-characterisation of redeemable preference share subscription and redemption as loans was rejected because earlier decisions in the assessee's own case had already held that, absent material showing sham or concealment of the real character, the TPO could not disregard the apparent transaction or impute notional interest. The interest disallowance on advances to sister concerns also failed because the Tribunal found sufficient own funds on the balance sheets, giving rise to a presumption that the advances came from those funds; that factual finding was not shown to be perverse. Both appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
