Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Related-party imports can justify rejection of declared transaction value where the importer and foreign supplier are owned or controlled by the same family and the relationship was not disclosed; the Tribunal treated this as sufficient reason to doubt the truth of the declared value under the valuation rules. Once transaction value is rejected, re-determination must follow the prescribed sequential valuation scheme, with a rule-by-rule basis identified for each item. The Tribunal sustained valuation only for specified goods where supplier invoices or contemporaneous imports supported the adjustment, but set aside Rule 8 valuations based on unsupported materials such as manufacturers' invoices, handwritten cost sheets, domestic sale prices, or arbitrary loading. Consequential confiscation, redemption fine, and personal penalties were quashed.
Related-party imports can justify rejection of declared transaction value where the importer and foreign supplier are owned or controlled by the same family and the relationship was not disclosed; the Tribunal treated this as sufficient reason to doubt the truth of the declared value under the valuation rules. Once transaction value is rejected, re-determination must follow the prescribed sequential valuation scheme, with a rule-by-rule basis identified for each item. The Tribunal sustained valuation only for specified goods where supplier invoices or contemporaneous imports supported the adjustment, but set aside Rule 8 valuations based on unsupported materials such as manufacturers' invoices, handwritten cost sheets, domestic sale prices, or arbitrary loading. Consequential confiscation, redemption fine, and personal penalties were quashed.
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