TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
Violation of principles of natural justice - Reliance on the Enquiry Reports - The court highlighted that the petitioner was given multiple opportunities to respond to the show-cause notices and the enquiry reports. The Deputy Commissioner’s order detailed the investigation process and the reasons for disallowing the exemptions. The petitioner failed to provide substantial evidence to refute the findings of the investigation. - The court found that the enquiry report, which revealed the non-existence of the agents and the invalidity of the F-forms, was based on substantial evidence. The court concluded that the petitioner had the opportunity to inspect the enquiry report and present their objections but failed to provide adequate evidence to counter the findings. - Consequently, the Tax Revision Case was dismissed.
Violation of principles of natural justice - Reliance on the Enquiry Reports - The court highlighted that the petitioner was given multiple opportunities to respond to the show-cause notices and the enquiry reports. The Deputy Commissioner’s order detailed the investigation process and the reasons for disallowing the exemptions. The petitioner failed to provide substantial evidence to refute the findings of the investigation. - The court found that the enquiry report, which revealed the non-existence of the agents and the invalidity of the F-forms, was based on substantial evidence. The court concluded that the petitioner had the opportunity to inspect the enquiry report and present their objections but failed to provide adequate evidence to counter the findings. - Consequently, the Tax Revision Case was dismissed.
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