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 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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