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...
Interest on delayed Refund claim - “relevant date” - The Tribunal held that, Section 11 BB, does not talk or uses the phraseology “relevant date,” what it alone speaks is “the date of receipt of application under subsection (1)” of Section 11B. The term relevant date is made use of in Section 11B and that too, in the context of the limitation for making of such an application for filing of a refund claim and provides for a series of situations like export of goods, goods returned for certain specified reasons, etc. or even situations not pertaining directly to manufacturers, provisional payments of duty, judicial ruling and the like. The usage of the term “relevant date” therefore, does not have any impact with reference to the date of proclamation of the admissibility of the refund claim.
Interest on delayed Refund claim - “relevant date” - The Tribunal held that, Section 11 BB, does not talk or uses the phraseology “relevant date,” what it alone speaks is “the date of receipt of application under subsection (1)” of Section 11B. The term relevant date is made use of in Section 11B and that too, in the context of the limitation for making of such an application for filing of a refund claim and provides for a series of situations like export of goods, goods returned for certain specified reasons, etc. or even situations not pertaining directly to manufacturers, provisional payments of duty, judicial ruling and the like. The usage of the term “relevant date” therefore, does not have any impact with reference to the date of proclamation of the admissibility of the refund claim.
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