Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily disclosed and paid tax on income during reassessment proceedings - Following jurisdictional High Court decisions, if assessee files correct income during reassessment and disclosure is accepted without adjustment, no penalty u/s 271(1)(c) is leviable - Decided in favor of assessee.
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