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...
Absence of a Document Identification Number in a section 153D approval did not invalidate the assessment, because the curative rule was read to cover assessment proceedings and connected communications, not only the final order. For the search assessment, the Tribunal held that A.Y. 2015-16 was a completed, unabated assessment and that the seized papers were only disclosed returns, audited accounts and ledger entries; no incriminating material was found, so section 153A could not support an addition. On merits, section 41(1) was held inapplicable because the liability write-back did not reverse any prior tax benefit, as the related losses had lapsed without set-off. The assessee's appeal was partly allowed and the Revenue's appeal was dismissed.
Absence of a Document Identification Number in a section 153D approval did not invalidate the assessment, because the curative rule was read to cover assessment proceedings and connected communications, not only the final order. For the search assessment, the Tribunal held that A.Y. 2015-16 was a completed, unabated assessment and that the seized papers were only disclosed returns, audited accounts and ledger entries; no incriminating material was found, so section 153A could not support an addition. On merits, section 41(1) was held inapplicable because the liability write-back did not reverse any prior tax benefit, as the related losses had lapsed without set-off. The assessee's appeal was partly allowed and the Revenue's appeal was dismissed.
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