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 High Court dismissed the petition challenging the assessment orders levying commercial tax under the Commercial Tax Act and Entry Tax Act. The key points are: The Build, Operate and Transfer (BOT) contract executed by the petitioner for constructing a bypass road amounted to a works contract. The petitioner was authorized to collect toll from vehicles to recover the construction cost, which is a deferred payment mode. The court held that the contract falls within the definition of a works contract under the relevant laws. The petitioner's contention that it did not execute a works contract was rejected. The court relied on its previous Full Bench decision in Viva Highways case, which clarified the scope of works contract. Consequently, the petition was dismissed as devoid of merit and substance.
The High Court dismissed the petition challenging the assessment orders levying commercial tax under the Commercial Tax Act and Entry Tax Act. The key points are: The Build, Operate and Transfer (BOT) contract executed by the petitioner for constructing a bypass road amounted to a works contract. The petitioner was authorized to collect toll from vehicles to recover the construction cost, which is a deferred payment mode. The court held that the contract falls within the definition of a works contract under the relevant laws. The petitioner's contention that it did not execute a works contract was rejected. The court relied on its previous Full Bench decision in Viva Highways case, which clarified the scope of works contract. Consequently, the petition was dismissed as devoid of merit and substance.
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