Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
The assessee, Adobe Systems Software Ireland Limited, is a company incorporated under Irish laws and a tax resident of Ireland per the India-Ireland tax treaty. The tribunal held that the issue of existence of a Permanent Establishment (PE) in India is covered by a coordinate bench order, which deleted additions made by the Assessing Officer. It was held that no addition was proposed by the Transfer Pricing Officer for Adobe India regarding marketing support services. Attributing profits to the alleged PE (Adobe India) would contradict Supreme Court rulings in Morgan Stanley and E-Funds cases. The tribunal rejected the reasons and conclusions on which the Assessing Officer and Dispute Resolution Panel's findings of PE existence were premised. Consequently, the additions made by the Assessing Officer were deleted on merits for the year under consideration, and the assessee's appeal was allowed.
The assessee, Adobe Systems Software Ireland Limited, is a company incorporated under Irish laws and a tax resident of Ireland per the India-Ireland tax treaty. The tribunal held that the issue of existence of a Permanent Establishment (PE) in India is covered by a coordinate bench order, which deleted additions made by the Assessing Officer. It was held that no addition was proposed by the Transfer Pricing Officer for Adobe India regarding marketing support services. Attributing profits to the alleged PE (Adobe India) would contradict Supreme Court rulings in Morgan Stanley and E-Funds cases. The tribunal rejected the reasons and conclusions on which the Assessing Officer and Dispute Resolution Panel's findings of PE existence were premised. Consequently, the additions made by the Assessing Officer were deleted on merits for the year under consideration, and the assessee's appeal was allowed.
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