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...
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
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