Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The petitioner, a US citizen and Overseas Citizen of India (OCI) cardholder, violated FEMA regulations by purchasing vast agricultural properties in India without RBI permission. Compounding proceedings were initiated, and a penalty was computed as per the Master Directions. The petitioner argued that the penalty was exorbitant despite complying with RBI's directions to sell the properties to an Indian citizen. However, the court held that the computation method followed the prescribed regulations. Considering the cash component of the sale contravening FEMA, the petitioner was dealt with fairly by imposing a fine not exceeding 300% of the contravention amount. The opportunity for a hearing was provided but not availed. The court dismissed the writ petition, finding no legally sustainable grounds to fault the respondent's decision.
The petitioner, a US citizen and Overseas Citizen of India (OCI) cardholder, violated FEMA regulations by purchasing vast agricultural properties in India without RBI permission. Compounding proceedings were initiated, and a penalty was computed as per the Master Directions. The petitioner argued that the penalty was exorbitant despite complying with RBI's directions to sell the properties to an Indian citizen. However, the court held that the computation method followed the prescribed regulations. Considering the cash component of the sale contravening FEMA, the petitioner was dealt with fairly by imposing a fine not exceeding 300% of the contravention amount. The opportunity for a hearing was provided but not availed. The court dismissed the writ petition, finding no legally sustainable grounds to fault the respondent's decision.
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