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...
Sodium Bicarbonate (Soda Ash) and Magnesium Sulphate (Epsom Salt) are not enumerated in Entry-9 of the VI Schedule, which covers dyes and chemicals. A Government Order directs a levy of 8% sales tax on all chemicals not covered under Entry-9. In a similar case, the erstwhile High Court of Judicature, Andhra Pradesh held that any chemical not enumerated in Entry-9 would fall under the Government Order and be taxable at 8% only, irrespective of its usage as a raw material. Consequently, the goods in question are to be taxed at 8% as they are chemicals not covered under Entry-9. The Revision Orders of the Joint Commissioner (CT) (Legal), Office of the Commissioner of Commercial Taxes, A.P, Hyderabad are set aside, and the petition is allowed.
Sodium Bicarbonate (Soda Ash) and Magnesium Sulphate (Epsom Salt) are not enumerated in Entry-9 of the VI Schedule, which covers dyes and chemicals. A Government Order directs a levy of 8% sales tax on all chemicals not covered under Entry-9. In a similar case, the erstwhile High Court of Judicature, Andhra Pradesh held that any chemical not enumerated in Entry-9 would fall under the Government Order and be taxable at 8% only, irrespective of its usage as a raw material. Consequently, the goods in question are to be taxed at 8% as they are chemicals not covered under Entry-9. The Revision Orders of the Joint Commissioner (CT) (Legal), Office of the Commissioner of Commercial Taxes, A.P, Hyderabad are set aside, and the petition is allowed.
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