Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
SC resolved jurisdictional dispute regarding arbitral proceedings under MSMED Act, affirming Facilitation Council's exclusive jurisdiction where MSME supplier is located. The Court upheld prior precedent in Mahakali case, determining that Section 18(4) of MSMED Act specifically vests arbitration jurisdiction in the council where supplier is domiciled. In this instance, Delhi Facilitation Council was deemed competent to conduct arbitration through Delhi Arbitration Centre. The SC allowed the appeal, set aside the Karnataka HC order, and directed arbitral proceedings to be conducted consistent with statutory mandate.
SC resolved jurisdictional dispute regarding arbitral proceedings under MSMED Act, affirming Facilitation Council's exclusive jurisdiction where MSME supplier is located. The Court upheld prior precedent in Mahakali case, determining that Section 18(4) of MSMED Act specifically vests arbitration jurisdiction in the council where supplier is domiciled. In this instance, Delhi Facilitation Council was deemed competent to conduct arbitration through Delhi Arbitration Centre. The SC allowed the appeal, set aside the Karnataka HC order, and directed arbitral proceedings to be conducted consistent with statutory mandate.
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