Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
HC ruled in favor of the petitioner regarding PPSB bed sheets classification, finding the Appellate Authority erroneously misinterpreted statutory provisions. The court determined that PPSB bed sheets should be taxed at 5% under Chapter 6304, not 12% under Chapter 5603. The HC directed respondents to process the petitioner's refund applications within 12 weeks, including applicable statutory interest, and modified the previous orders that incorrectly classified the bed sheets. The writ petitions were disposed of, effectively overturning the Appellate Authority's previous decisions.
HC ruled in favor of the petitioner regarding PPSB bed sheets classification, finding the Appellate Authority erroneously misinterpreted statutory provisions. The court determined that PPSB bed sheets should be taxed at 5% under Chapter 6304, not 12% under Chapter 5603. The HC directed respondents to process the petitioner's refund applications within 12 weeks, including applicable statutory interest, and modified the previous orders that incorrectly classified the bed sheets. The writ petitions were disposed of, effectively overturning the Appellate Authority's previous decisions.
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