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...
Intra-firm stock transfers between premises of the same registered person, without distinct entities or consideration, do not constitute supply and do not create tax liability. Consequently, detention penalty under section 129, which is quantified by reference to tax payable on the goods, is not leviable where no tax is payable. Absence of an e-way bill alone does not establish that such movement is non-genuine where there is no allegation or material of fraud, wilful misstatement, suppression or non-genuineness. A document-related breach during movement otherwise than for supply may instead attract the specific penalty provision for e-way bill contraventions.
Intra-firm stock transfers between premises of the same registered person, without distinct entities or consideration, do not constitute supply and do not create tax liability. Consequently, detention penalty under section 129, which is quantified by reference to tax payable on the goods, is not leviable where no tax is payable. Absence of an e-way bill alone does not establish that such movement is non-genuine where there is no allegation or material of fraud, wilful misstatement, suppression or non-genuineness. A document-related breach during movement otherwise than for supply may instead attract the specific penalty provision for e-way bill contraventions.
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