Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
For an SEZ unit claiming refund of service tax on input services used for authorised operations, the SEZ Act's exemption scheme prevails over service tax notifications issued under the Finance Act, 1994. The Tribunal applied the settled position that section 26 of the SEZ Act and the SEZ Rules govern the exemption, and that inconsistent notification-based restrictions cannot be imposed on SEZ refunds. Accordingly, the one-year limitation in the service tax notifications was held inapplicable, the rejection as time-barred was set aside, and the refund appeal succeeded with consequential relief.
For an SEZ unit claiming refund of service tax on input services used for authorised operations, the SEZ Act's exemption scheme prevails over service tax notifications issued under the Finance Act, 1994. The Tribunal applied the settled position that section 26 of the SEZ Act and the SEZ Rules govern the exemption, and that inconsistent notification-based restrictions cannot be imposed on SEZ refunds. Accordingly, the one-year limitation in the service tax notifications was held inapplicable, the rejection as time-barred was set aside, and the refund appeal succeeded with consequential relief.
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