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...
The appellate authority erred in deciding the appeal ex-parte in the absence of the appellant or their counsel. The statutory mandate requires the appellate authority to hear the appellant, conduct further inquiry if necessary, and pass a reasoned order confirming, modifying, or annulling the decision appealed against. Deciding the case ex-parte without giving a reasonable opportunity violates the principles of natural justice and audi alteram partem. The appellate authority should have dismissed the appeal in default instead of deciding it on merits. The impugned ex-parte order is illegal and arbitrary, necessitating remitting the matter back to the appellate authority to decide afresh after affording an opportunity of hearing to the parties within three months.
The appellate authority erred in deciding the appeal ex-parte in the absence of the appellant or their counsel. The statutory mandate requires the appellate authority to hear the appellant, conduct further inquiry if necessary, and pass a reasoned order confirming, modifying, or annulling the decision appealed against. Deciding the case ex-parte without giving a reasonable opportunity violates the principles of natural justice and audi alteram partem. The appellate authority should have dismissed the appeal in default instead of deciding it on merits. The impugned ex-parte order is illegal and arbitrary, necessitating remitting the matter back to the appellate authority to decide afresh after affording an opportunity of hearing to the parties within three months.
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