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...
Customs clearance facilitator liability for differential duty requires foundational proof that the facilitator acted with express or implied authority from the owner or importer, or knowingly participated in misdeclaration or smuggling. Filing a Bill of Entry, paying assessed duty, and arranging examination and clearance do not by themselves establish ownership, beneficial ownership, agency authority, or knowledge of concealed goods. Liability for differential duty and interest was therefore set aside. Penalty for duty evasion cannot survive without established duty liability arising from collusion, wilful misstatement, or suppression. Penalty for false customs documents also requires proof of knowing or intentional use; false documents alone are insufficient. The penalties were set aside as against the facilitator.
Customs clearance facilitator liability for differential duty requires foundational proof that the facilitator acted with express or implied authority from the owner or importer, or knowingly participated in misdeclaration or smuggling. Filing a Bill of Entry, paying assessed duty, and arranging examination and clearance do not by themselves establish ownership, beneficial ownership, agency authority, or knowledge of concealed goods. Liability for differential duty and interest was therefore set aside. Penalty for duty evasion cannot survive without established duty liability arising from collusion, wilful misstatement, or suppression. Penalty for false customs documents also requires proof of knowing or intentional use; false documents alone are insufficient. The penalties were set aside as against the facilitator.
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