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...
In a case concerning the notice issued u/s 74 of the OGST Act for testing fly ash bricks, the High Court held that since the components of fly ash bricks are under challenge, it is not inclined to interfere with the notice at this stage. The petitioner was advised to raise objections and provide a comprehensive reply to the show cause notice regarding verification of fly ash bricks and utilization of raw materials. The Court stated that if the petitioner responds accordingly, the authority can take necessary steps as per law. The Court refrained from expressing any opinion on the merits of the case, disposing of the writ petition.
In a case concerning the notice issued u/s 74 of the OGST Act for testing fly ash bricks, the High Court held that since the components of fly ash bricks are under challenge, it is not inclined to interfere with the notice at this stage. The petitioner was advised to raise objections and provide a comprehensive reply to the show cause notice regarding verification of fly ash bricks and utilization of raw materials. The Court stated that if the petitioner responds accordingly, the authority can take necessary steps as per law. The Court refrained from expressing any opinion on the merits of the case, disposing of the writ petition.
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