Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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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