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...
Cash consideration receivable, whether as advance or otherwise, for transfer of immovable property falls within "specified sum" and is governed by section 269SS; the contention that section 269ST exclusively applied was rejected. However, penalty under section 271D could not be sustained for an assessment year in which no cash consideration was received. As the relevant receipts occurred in an earlier financial year, the penalty levied for AY 2017-18 was held invalid and deleted. The Tribunal also noted that part of the receipts preceded the amendment extending section 269SS to specified sums connected with immovable property transfers.
Cash consideration receivable, whether as advance or otherwise, for transfer of immovable property falls within "specified sum" and is governed by section 269SS; the contention that section 269ST exclusively applied was rejected. However, penalty under section 271D could not be sustained for an assessment year in which no cash consideration was received. As the relevant receipts occurred in an earlier financial year, the penalty levied for AY 2017-18 was held invalid and deleted. The Tribunal also noted that part of the receipts preceded the amendment extending section 269SS to specified sums connected with immovable property transfers.
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