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...
Circular No.9 dated 24.05.2019 challenged - authority to delegate power of adjudication by circular contrary to Section 167 requiring notification - assessing authority being inspecting authority leading to conflict of interest. Court held circular traceable to Section 2(91), not Section 167, hence notification unnecessary for authorizing adjudication power. Reliance on Gujarat HC judgment rejecting similar challenge. Adjudication of factual disputes beyond Article 226 writ jurisdiction when alternative remedy available. Writ petition against Circular No.9 and assessment orders for 2017-18 to 2020-21 rejected. Petition disposed of.
Circular No.9 dated 24.05.2019 challenged - authority to delegate power of adjudication by circular contrary to Section 167 requiring notification - assessing authority being inspecting authority leading to conflict of interest. Court held circular traceable to Section 2(91), not Section 167, hence notification unnecessary for authorizing adjudication power. Reliance on Gujarat HC judgment rejecting similar challenge. Adjudication of factual disputes beyond Article 226 writ jurisdiction when alternative remedy available. Writ petition against Circular No.9 and assessment orders for 2017-18 to 2020-21 rejected. Petition disposed of.
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