TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
HC ruled on penalty imposition under Companies Act s.203(5) for non-compliance with managerial appointment requirements. Authority's discretionary power in penalty assessment was confirmed, including ability to consider mitigating circumstances. While mens rea is irrelevant for establishing contravention, adjudicating authority retains discretion in quantum determination within statutory limits (1-5 lakhs for company, up to 50,000 for directors, plus continuing penalties). Authority's calculation excluding COVID period was deemed reasonable exercise of discretion. Court upheld penalty assessment as neither illegal nor arbitrary, finding no grounds for interference with authority's discretionary determination. Petition challenging penalty quantum dismissed.
HC ruled on penalty imposition under Companies Act s.203(5) for non-compliance with managerial appointment requirements. Authority's discretionary power in penalty assessment was confirmed, including ability to consider mitigating circumstances. While mens rea is irrelevant for establishing contravention, adjudicating authority retains discretion in quantum determination within statutory limits (1-5 lakhs for company, up to 50,000 for directors, plus continuing penalties). Authority's calculation excluding COVID period was deemed reasonable exercise of discretion. Court upheld penalty assessment as neither illegal nor arbitrary, finding no grounds for interference with authority's discretionary determination. Petition challenging penalty quantum dismissed.
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