Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
The HC upheld the ITAT's decision to delete additions related to AMP expenditure incurred by the assessee for brand-building owned by an associated enterprise. The court determined that while Section 92B defines "international transaction" (expanded by Finance Act 2012's Explanation to include "use" of intangible property retroactively from April 2002), the Revenue failed to establish the existence of an actual transaction. The TPO erroneously relied solely on perceived excessive AMP expenditure and applied the Bright Line Test, which had been previously criticized in Maruti Suzuki. The deeming fiction introduced in Section 92B(2) was inapplicable due to the absence of a prior agreement and its prospective application from April 2015. The ITAT's decision required no interference.
The HC upheld the ITAT's decision to delete additions related to AMP expenditure incurred by the assessee for brand-building owned by an associated enterprise. The court determined that while Section 92B defines "international transaction" (expanded by Finance Act 2012's Explanation to include "use" of intangible property retroactively from April 2002), the Revenue failed to establish the existence of an actual transaction. The TPO erroneously relied solely on perceived excessive AMP expenditure and applied the Bright Line Test, which had been previously criticized in Maruti Suzuki. The deeming fiction introduced in Section 92B(2) was inapplicable due to the absence of a prior agreement and its prospective application from April 2015. The ITAT's decision required no interference.
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