Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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...
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The AT found evidence of hawala transactions through a recovered notebook containing daily business accounts, despite the appellant's retraction. The tribunal corroborated the evidence through multiple sources, including witness statements. Cross-examination was deemed unnecessary in quasi-judicial proceedings. The penalties were partially modified: for the primary appellant, penalties were reduced to Rs. 40,00,000 for Section 3(c), Rs. 60,00,000 for Section 3(a), and Rs. 40,00,000 for Section 3(b). For the employee, penalties were substantially reduced to Rs. 90,000 for Section 3(c), Rs. 1,00,000 for Section 3(a), and Rs. 90,000 for Section 3(b), recognizing his limited role in the transactions.
The AT found evidence of hawala transactions through a recovered notebook containing daily business accounts, despite the appellant's retraction. The tribunal corroborated the evidence through multiple sources, including witness statements. Cross-examination was deemed unnecessary in quasi-judicial proceedings. The penalties were partially modified: for the primary appellant, penalties were reduced to Rs. 40,00,000 for Section 3(c), Rs. 60,00,000 for Section 3(a), and Rs. 40,00,000 for Section 3(b). For the employee, penalties were substantially reduced to Rs. 90,000 for Section 3(c), Rs. 1,00,000 for Section 3(a), and Rs. 90,000 for Section 3(b), recognizing his limited role in the transactions.
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