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...
Eligibility of CENVAT credit on various input services, write-off of obsolete items, rental charges for EOU, credit taken without documents, and the applicability of time limitation and penalties. The key points are: Prior to 01.04.2011, the appellant is eligible for credit on services like outdoor catering, courier, civil construction, logistics, customs agent, and insurance services as they fall under the inclusive definition of input services. After 01.04.2011, credit on outdoor catering, civil construction, and insurance services is ineligible, and the appellant has reversed the credit. The demand for write-off of obsolete items is set aside before 01.03.2011 but sustained after that date, with the appellant reversing Rs. 27,36,474/-. The demand on rental charges for EOU is upheld as the appellant is not contesting it. The demand alleging common use of input services for DTA and EOU units cannot be sustained based on the Dashion Ltd. case. The denial of credit transferred from the de-bonded EOU to the DTA unit without documents is set aside, following the Wipro Ltd. case and the appellant's own case before the High Court. Considering the interpretational nature of issues and lack of suppression, the extended period and penalties are set aside. The appeal is allowed in.
Eligibility of CENVAT credit on various input services, write-off of obsolete items, rental charges for EOU, credit taken without documents, and the applicability of time limitation and penalties. The key points are: Prior to 01.04.2011, the appellant is eligible for credit on services like outdoor catering, courier, civil construction, logistics, customs agent, and insurance services as they fall under the inclusive definition of input services. After 01.04.2011, credit on outdoor catering, civil construction, and insurance services is ineligible, and the appellant has reversed the credit. The demand for write-off of obsolete items is set aside before 01.03.2011 but sustained after that date, with the appellant reversing Rs. 27,36,474/-. The demand on rental charges for EOU is upheld as the appellant is not contesting it. The demand alleging common use of input services for DTA and EOU units cannot be sustained based on the Dashion Ltd. case. The denial of credit transferred from the de-bonded EOU to the DTA unit without documents is set aside, following the Wipro Ltd. case and the appellant's own case before the High Court. Considering the interpretational nature of issues and lack of suppression, the extended period and penalties are set aside. The appeal is allowed in.
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