Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
HC dismissed the appeal challenging tax authority's search and seizure operation. The court rejected prayers to quash summons and panchanama, finding they had already been implemented. Regarding seized jewelry, the court granted liberty to the appellant to file an application before the assessing officer seeking release under appropriate conditions. The court directed the assessing officer to commence assessment proceedings within two months and noted inability to direct return of jewelry to specific respondent outside court's jurisdiction. The appeal and connected application were dismissed with specific observations and procedural directions.
HC dismissed the appeal challenging tax authority's search and seizure operation. The court rejected prayers to quash summons and panchanama, finding they had already been implemented. Regarding seized jewelry, the court granted liberty to the appellant to file an application before the assessing officer seeking release under appropriate conditions. The court directed the assessing officer to commence assessment proceedings within two months and noted inability to direct return of jewelry to specific respondent outside court's jurisdiction. The appeal and connected application were dismissed with specific observations and procedural directions.
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