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 Competition Commission of India found that the Respondent engaged in profiteering by not passing on the benefit of reduced GST rates to ticket recipients, resulting in a profiteered amount of Rs. 48,25,970. The Respondent was directed to reduce ticket prices and deposit the profiteered amount with interest. The amount was to be split between the Central and Telangana State Consumer Welfare Funds. The Respondent was given 3 months to comply, failure of which would lead to recovery by the tax authorities. While the Respondent violated Section 171(1) of the CGST Act, 2017, the penalty u/s 171(3A) could not be imposed retrospectively as it was not in effect during the violation period. Application was disposed of.
The Competition Commission of India found that the Respondent engaged in profiteering by not passing on the benefit of reduced GST rates to ticket recipients, resulting in a profiteered amount of Rs. 48,25,970. The Respondent was directed to reduce ticket prices and deposit the profiteered amount with interest. The amount was to be split between the Central and Telangana State Consumer Welfare Funds. The Respondent was given 3 months to comply, failure of which would lead to recovery by the tax authorities. While the Respondent violated Section 171(1) of the CGST Act, 2017, the penalty u/s 171(3A) could not be imposed retrospectively as it was not in effect during the violation period. Application was disposed of.
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