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...
AAR ruled that potable drinking water supplied through tanker lorries to government institutions and private customers qualifies for GST exemption under Serial No. 99 of Notification 02/2017-Central Tax (Rate). The applicant collected water from wells, conducted purification through filtration and chlorination to meet drinking water standards, and supplied in bulk quantities via tankers with 2,000-30,000 kiloliter capacity. The Authority determined that basic purification methods like chlorination and filtration used by public utilities do not disqualify the water from exemption, and since water was not supplied in sealed containers but transported in bulk through tankers, it falls within the exempted category under the GST framework.
AAR ruled that potable drinking water supplied through tanker lorries to government institutions and private customers qualifies for GST exemption under Serial No. 99 of Notification 02/2017-Central Tax (Rate). The applicant collected water from wells, conducted purification through filtration and chlorination to meet drinking water standards, and supplied in bulk quantities via tankers with 2,000-30,000 kiloliter capacity. The Authority determined that basic purification methods like chlorination and filtration used by public utilities do not disqualify the water from exemption, and since water was not supplied in sealed containers but transported in bulk through tankers, it falls within the exempted category under the GST framework.
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