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...
Jurisdiction of the Tribunal to entertain the appeal related to duty drawback - confiscation of goods - The High Court referred to a precedent where it was held that an order passed by a court lacking subject matter jurisdiction is null and void. It concurred with the appellant's interpretation of the law, acknowledging that the remedy for impugning such orders lies in Revision to the Central Government, not by appeal to the Tribunal. The High Court set aside the impugned order and granted the respondent an opportunity to file a Revision under Section 129(DD) of the Act within two months.
Jurisdiction of the Tribunal to entertain the appeal related to duty drawback - confiscation of goods - The High Court referred to a precedent where it was held that an order passed by a court lacking subject matter jurisdiction is null and void. It concurred with the appellant's interpretation of the law, acknowledging that the remedy for impugning such orders lies in Revision to the Central Government, not by appeal to the Tribunal. The High Court set aside the impugned order and granted the respondent an opportunity to file a Revision under Section 129(DD) of the Act within two months.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
