Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Discounted Cash Flow valuation of shares issued by a newly incorporated company was recognised as a valid method for section 56(2)(viib) purposes, even before its later notification under Rule 11UA. Recognition by valuation professionals was distinguished from legislative notification, and the Net Asset Value method was considered unsuitable for a newly incorporated company. Although the valuation rule used mandatory language, the Assessing Officer was required to identify defects in the valuation report or methodology and could not replace projected returns with an independent estimate. Procedural valuation rules could not defeat substantive rights without a substantial legal breach. The share-premium addition was deleted and that deletion was affirmed.
Discounted Cash Flow valuation of shares issued by a newly incorporated company was recognised as a valid method for section 56(2)(viib) purposes, even before its later notification under Rule 11UA. Recognition by valuation professionals was distinguished from legislative notification, and the Net Asset Value method was considered unsuitable for a newly incorporated company. Although the valuation rule used mandatory language, the Assessing Officer was required to identify defects in the valuation report or methodology and could not replace projected returns with an independent estimate. Procedural valuation rules could not defeat substantive rights without a substantial legal breach. The share-premium addition was deleted and that deletion was affirmed.
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