Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
HC ruled in favor of the assessee on multiple taxation issues related to insurance business. The court held that Section 14A does not apply to insurance company assessments, which are governed by Section 44 and First Schedule rules. The court affirmed the scientific basis for IBNR and IBNER provisions made by a registered actuary. Regarding motor vehicle dealer payments, the matter was remanded to the Assessing Officer to verify services based on CESTAT's order. Substantially, the decision favored the assessee on computational methodology and provision claims, with a limited remand on one specific issue against the assessee.
HC ruled in favor of the assessee on multiple taxation issues related to insurance business. The court held that Section 14A does not apply to insurance company assessments, which are governed by Section 44 and First Schedule rules. The court affirmed the scientific basis for IBNR and IBNER provisions made by a registered actuary. Regarding motor vehicle dealer payments, the matter was remanded to the Assessing Officer to verify services based on CESTAT's order. Substantially, the decision favored the assessee on computational methodology and provision claims, with a limited remand on one specific issue against the assessee.
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