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...
Mintainability of a company petition u/s 399 of the Companies Act, 1956, focusing on the pre-conditions envisaged under sub-sections (1) and (3). It examines whether the amendments made to the Articles of Association and declarations filed before the Registrar of Companies were prejudicial to the interests of the public, the company, and the petitioner, amounting to oppression and mismanagement. The Tribunal held that the petitioners failed to satisfy the condition precedent under sub-section (3) of Section 399 by not obtaining written consent from the rest of the members before filing the petition. Additionally, the allegations of illegal transfer of shares were barred by limitation, as the annual returns were available on the MCA website, constituting public notice. Ultimately, the Tribunal concluded that none of the allegations survived the law of limitation or constituted acts of oppression and mismanagement, leading to the dismissal of the petition as misconceived.
Mintainability of a company petition u/s 399 of the Companies Act, 1956, focusing on the pre-conditions envisaged under sub-sections (1) and (3). It examines whether the amendments made to the Articles of Association and declarations filed before the Registrar of Companies were prejudicial to the interests of the public, the company, and the petitioner, amounting to oppression and mismanagement. The Tribunal held that the petitioners failed to satisfy the condition precedent under sub-section (3) of Section 399 by not obtaining written consent from the rest of the members before filing the petition. Additionally, the allegations of illegal transfer of shares were barred by limitation, as the annual returns were available on the MCA website, constituting public notice. Ultimately, the Tribunal concluded that none of the allegations survived the law of limitation or constituted acts of oppression and mismanagement, leading to the dismissal of the petition as misconceived.
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