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...
The case before CESTAT Bangalore involved the interpretation of an exemption notification u/s 12/2012-CE for Additional Duty. The issue was whether a "Grid-Tied Solar Inverter" could be considered a "Solar Power Generating System" for claiming the exemption. The Tribunal held that while the inverter is used in a solar system, it does not constitute the entire system. The respondent failed to satisfy the conditions of the notification, thus not eligible for the exemption. The Commissioner's view of liberal interpretation was rejected, citing the burden of proof on the Revenue. The decision was in line with the Supreme Court's ruling in Dilip Kumar and Company case. The impugned order was set aside, and the appeal was allowed.
The case before CESTAT Bangalore involved the interpretation of an exemption notification u/s 12/2012-CE for Additional Duty. The issue was whether a "Grid-Tied Solar Inverter" could be considered a "Solar Power Generating System" for claiming the exemption. The Tribunal held that while the inverter is used in a solar system, it does not constitute the entire system. The respondent failed to satisfy the conditions of the notification, thus not eligible for the exemption. The Commissioner's view of liberal interpretation was rejected, citing the burden of proof on the Revenue. The decision was in line with the Supreme Court's ruling in Dilip Kumar and Company case. The impugned order was set aside, and the appeal was allowed.
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