Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The court quashed the impugned orders rejecting the appeal as the appellate authority failed to assign any reasons, violating principles of natural justice. It is settled law that reasons are the heartbeat of every conclusion, and an order without valid reasons cannot be sustained. Giving reasons substitutes subjectivity with objectivity. The Supreme Court has held that administrative authorities and tribunals are obliged to give reasons, absence of which renders the order liable to judicial scrutiny. As no reason was assigned for rejecting the appeal, the orders could not be sustained in the eyes of law.
The court quashed the impugned orders rejecting the appeal as the appellate authority failed to assign any reasons, violating principles of natural justice. It is settled law that reasons are the heartbeat of every conclusion, and an order without valid reasons cannot be sustained. Giving reasons substitutes subjectivity with objectivity. The Supreme Court has held that administrative authorities and tribunals are obliged to give reasons, absence of which renders the order liable to judicial scrutiny. As no reason was assigned for rejecting the appeal, the orders could not be sustained in the eyes of law.
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