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...
Intermediary service classification does not apply to loan origination, credit assessment, structuring, disbursement and loan-management activities performed by an Indian bank office for its Singapore head office where both form the same legal person. The arrangement lacks the required three distinct parties, identifiable main and ancillary supplies, and remuneration linked to the external lending service. The Indian office performs principal functions on its own account, while the head office alone enters into and makes final decisions on external commercial borrowing arrangements. The activities are therefore not liable to service tax as intermediary services, rendering the related demand and penalties unsustainable.
Intermediary service classification does not apply to loan origination, credit assessment, structuring, disbursement and loan-management activities performed by an Indian bank office for its Singapore head office where both form the same legal person. The arrangement lacks the required three distinct parties, identifiable main and ancillary supplies, and remuneration linked to the external lending service. The Indian office performs principal functions on its own account, while the head office alone enters into and makes final decisions on external commercial borrowing arrangements. The activities are therefore not liable to service tax as intermediary services, rendering the related demand and penalties unsustainable.
Note: It is a system-generated summary and is for quick reference only.
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