Cost-to-cost reimbursement of seconded employees is not service consideration; transfer-pricing markup was deleted and amalgamation amortisation allow...
Crystallisation of liability supports prior-period expense deduction, while functionally distinct divisions require separate transfer-pricing benchmar...
Functional comparability under TNMM requires transaction-specific FAR analysis before benchmarking business-support services provided to associated en...
Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Rule 26(2) personal penalty for invoices issued without delivery of goods requires proof that the individual issued, or abetted the issue of, such invoices. Penalty against a director was unsustainable where the company received no show-cause notice, the director was not an authorised signatory, and no finding established issuance, connivance, or abetment. Purchasers' reversal of credit did not independently establish liability. Truck-owner statements could not be relied upon without compliance with the mandatory procedure for admitting statements under section 9D. The penalty was set aside with consequential relief.
Rule 26(2) personal penalty for invoices issued without delivery of goods requires proof that the individual issued, or abetted the issue of, such invoices. Penalty against a director was unsustainable where the company received no show-cause notice, the director was not an authorised signatory, and no finding established issuance, connivance, or abetment. Purchasers' reversal of credit did not independently establish liability. Truck-owner statements could not be relied upon without compliance with the mandatory procedure for admitting statements under section 9D. The penalty was set aside with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
