Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The High Court examined the jurisdiction of the Micro and Small Enterprises Facilitation Council to refer disputes between the parties for arbitration under the 2006 Act. It held that although the agreement was entered into before the supplier registered as a small enterprise, the work continued after registration. Relying on the Supreme Court's judgment in Shanti Conductors' case, it ruled that the applicability of the Act is determined based on when goods/services were rendered, not the contract date. The Court noted that MRPL had initially raised the jurisdictional issue but later gave it up before the Single Judge. Hence, the Council had jurisdiction to refer disputes to arbitration u/s 18 of the 2006 Act. Regarding the impact of the "No Claim Certificate" issued by the supplier, the Court refrained from examining it as MRPL's petition u/s 34 of the Arbitration Act was pending adjudication. The appeal was disposed of accordingly.
The High Court examined the jurisdiction of the Micro and Small Enterprises Facilitation Council to refer disputes between the parties for arbitration under the 2006 Act. It held that although the agreement was entered into before the supplier registered as a small enterprise, the work continued after registration. Relying on the Supreme Court's judgment in Shanti Conductors' case, it ruled that the applicability of the Act is determined based on when goods/services were rendered, not the contract date. The Court noted that MRPL had initially raised the jurisdictional issue but later gave it up before the Single Judge. Hence, the Council had jurisdiction to refer disputes to arbitration u/s 18 of the 2006 Act. Regarding the impact of the "No Claim Certificate" issued by the supplier, the Court refrained from examining it as MRPL's petition u/s 34 of the Arbitration Act was pending adjudication. The appeal was disposed of accordingly.
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