Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
HC set aside AO's order and directed issuance of nil withholding tax certificate under Section 197(1). Court found insufficient evidence to establish that SFDC India constituted petitioner's Permanent Establishment (PE) in India. The Reseller Agreement explicitly denied SFDC India authority to bind petitioner contractually. AO's conclusions regarding SFDC India's role in price determination and contract execution lacked substantial foundation. While SFDC India operated as petitioner's affiliate, transactions would be benchmarked at arm's length. Court emphasized order's scope limited to Section 197(1) certificate issuance, preserving AO's right to conduct future assessment uninfluenced by this ruling.
HC set aside AO's order and directed issuance of nil withholding tax certificate under Section 197(1). Court found insufficient evidence to establish that SFDC India constituted petitioner's Permanent Establishment (PE) in India. The Reseller Agreement explicitly denied SFDC India authority to bind petitioner contractually. AO's conclusions regarding SFDC India's role in price determination and contract execution lacked substantial foundation. While SFDC India operated as petitioner's affiliate, transactions would be benchmarked at arm's length. Court emphasized order's scope limited to Section 197(1) certificate issuance, preserving AO's right to conduct future assessment uninfluenced by this ruling.
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