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...
Mandatory notice under section 143(2) was treated as a jurisdictional precondition for completing reassessment under section 147 read with section 143(3); because the records did not show issuance of such notice before the draft assessment stage, the reassessment was held invalid for want of jurisdiction. The Tribunal further held that a purported draft order under section 144C ceases to be a mere proposal where it already directs tax demand, interest, credit adjustment and penalty initiation; in substance it is a final assessment order passed contrary to the statutory scheme. On that basis, the draft orders, final assessments and consequential proceedings were quashed, and the remaining issues were left academic.
Mandatory notice under section 143(2) was treated as a jurisdictional precondition for completing reassessment under section 147 read with section 143(3); because the records did not show issuance of such notice before the draft assessment stage, the reassessment was held invalid for want of jurisdiction. The Tribunal further held that a purported draft order under section 144C ceases to be a mere proposal where it already directs tax demand, interest, credit adjustment and penalty initiation; in substance it is a final assessment order passed contrary to the statutory scheme. On that basis, the draft orders, final assessments and consequential proceedings were quashed, and the remaining issues were left academic.
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