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...
The court allowed the writ petition filed by the petitioner, quashing the impugned order dated 23.04.2024 passed by the Assistant Commissioner, State Tax, Sector-16, Kanpur Nagar. The petitioner was unaware of the issuance of the reminder and the passing of the orders, and could not appear before the authority or question the validity of the orders within the limitation period. Following the judgment in Ola Fleet Technologies Pvt. Ltd [2024 (7) TMI 1543 - Allahabad High Court], the court held that the petitioner was entitled to the benefit of doubt, as there was no material to reject the contention that the impugned order was not reflected under the "view notices and orders" tab. The court found that no useful purpose would be served by keeping the petition pending, calling for a counter affidavit, or relegating the petitioner to the available statutory remedy.
The court allowed the writ petition filed by the petitioner, quashing the impugned order dated 23.04.2024 passed by the Assistant Commissioner, State Tax, Sector-16, Kanpur Nagar. The petitioner was unaware of the issuance of the reminder and the passing of the orders, and could not appear before the authority or question the validity of the orders within the limitation period. Following the judgment in Ola Fleet Technologies Pvt. Ltd [2024 (7) TMI 1543 - Allahabad High Court], the court held that the petitioner was entitled to the benefit of doubt, as there was no material to reject the contention that the impugned order was not reflected under the "view notices and orders" tab. The court found that no useful purpose would be served by keeping the petition pending, calling for a counter affidavit, or relegating the petitioner to the available statutory remedy.
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