Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The High Court found a violation of principles of natural justice due to a non-speaking order by the adjudicating authority, which ignored the petitioner's replies and failed to provide reasons for applying a high tax rate. The court emphasized that the adjudicating authority must consider and provide reasons for rejecting explanations submitted by the petitioner. The lack of reasoning in the adjudication order was deemed unfair and inadequate. Additionally, the authority erred in applying the highest tax rate without justification, especially when part of the turnover was exempt. The court noted that the petitioner was not responsible for delays in the proceedings and remitted the matter back to the authority for a fresh, reasoned order within three months. The writ petition was allowed for remand.
The High Court found a violation of principles of natural justice due to a non-speaking order by the adjudicating authority, which ignored the petitioner's replies and failed to provide reasons for applying a high tax rate. The court emphasized that the adjudicating authority must consider and provide reasons for rejecting explanations submitted by the petitioner. The lack of reasoning in the adjudication order was deemed unfair and inadequate. Additionally, the authority erred in applying the highest tax rate without justification, especially when part of the turnover was exempt. The court noted that the petitioner was not responsible for delays in the proceedings and remitted the matter back to the authority for a fresh, reasoned order within three months. The writ petition was allowed for remand.
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