Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
For import of finished goods by a routine distributor, RPM was treated as the most appropriate transfer pricing method because the assessee merely resold the imported products without processing, physical alteration, or value addition, and no local intangibles were shown. Advertising, sales and distribution expenditure below the gross profit line did not affect RPM analysis, so rejection of RPM in favour of TNMM was unwarranted. Interest under the relevant provisions was left to follow the assessment outcome, while the challenge to initiation of penalty proceedings was held premature.
For import of finished goods by a routine distributor, RPM was treated as the most appropriate transfer pricing method because the assessee merely resold the imported products without processing, physical alteration, or value addition, and no local intangibles were shown. Advertising, sales and distribution expenditure below the gross profit line did not affect RPM analysis, so rejection of RPM in favour of TNMM was unwarranted. Interest under the relevant provisions was left to follow the assessment outcome, while the challenge to initiation of penalty proceedings was held premature.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
