Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
Levy of penalty - availing 100% credit instead of 50% and remaining 50% to be availed in the next Financial year in respect of capital goods - In this fact the case should have been concluded, on the basis of appellant’s reversal of excess credit of 50% along with payment of interest thereon which could have resulted into non issuance of SCN and consequently no penalty should have been imposed. Therefore, in this fact since there is no mala fide on the part of the appellant, the case is clearly covered by Section 11A(2B). - AT
Levy of penalty - availing 100% credit instead of 50% and remaining 50% to be availed in the next Financial year in respect of capital goods - In this fact the case should have been concluded, on the basis of appellant’s reversal of excess credit of 50% along with payment of interest thereon which could have resulted into non issuance of SCN and consequently no penalty should have been imposed. Therefore, in this fact since there is no mala fide on the part of the appellant, the case is clearly covered by Section 11A(2B). - AT
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