Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
HC set aside the tax notice (N/N. 56/2023) due to procedural irregularities in service of Show Cause Notice (SCN). The court found fundamental violations of natural justice, as the SCN was undated and not properly received by the Petitioner. Following precedential rulings in similar tax dispute cases, the court remanded the matter back to the tax authorities, directing them to provide a fair opportunity for the Petitioner to file a reply and receive a personal hearing. The decision mandates a de novo review of the case, ensuring the Petitioner can present their submissions on merits before any final determination.
HC set aside the tax notice (N/N. 56/2023) due to procedural irregularities in service of Show Cause Notice (SCN). The court found fundamental violations of natural justice, as the SCN was undated and not properly received by the Petitioner. Following precedential rulings in similar tax dispute cases, the court remanded the matter back to the tax authorities, directing them to provide a fair opportunity for the Petitioner to file a reply and receive a personal hearing. The decision mandates a de novo review of the case, ensuring the Petitioner can present their submissions on merits before any final determination.
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