Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The AT upheld FMC's jurisdiction to conduct inquiry into affairs of NMCE and its key management personnel to protect investors' interests. It found payment of Rs. 28.8 crore by NMCE to ATSPL for software development bogus, amounting to embezzlement. Allotment of NMCE shares to appellant No. 2 without following due process was held illegal. Appointment of 144 consultants without due diligence and misappropriation of NMCE funds of over Rs. 60 lakh for personal expenses by appellant No. 1 and family were also upheld as irregularities. The appeals were dismissed.
The AT upheld FMC's jurisdiction to conduct inquiry into affairs of NMCE and its key management personnel to protect investors' interests. It found payment of Rs. 28.8 crore by NMCE to ATSPL for software development bogus, amounting to embezzlement. Allotment of NMCE shares to appellant No. 2 without following due process was held illegal. Appointment of 144 consultants without due diligence and misappropriation of NMCE funds of over Rs. 60 lakh for personal expenses by appellant No. 1 and family were also upheld as irregularities. The appeals were dismissed.
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