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...
Breach of the secure transit obligation under cargo handling regulations, by itself, did not establish abetment of attempted export of prohibited goods. The essential basis for penalty under Section 114 was knowledge that the goods were liable to confiscation, or admissible evidence of active participation or positive collusion, and that evidentiary burden was not met. A mere omission in secure transport, without proof of such knowledge or abetment, was insufficient. The penalty was therefore unsustainable and was set aside, and the appeal was allowed.
Breach of the secure transit obligation under cargo handling regulations, by itself, did not establish abetment of attempted export of prohibited goods. The essential basis for penalty under Section 114 was knowledge that the goods were liable to confiscation, or admissible evidence of active participation or positive collusion, and that evidentiary burden was not met. A mere omission in secure transport, without proof of such knowledge or abetment, was insufficient. The penalty was therefore unsustainable and was set aside, and the appeal was allowed.
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