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...
The HC held that the adjudicatory process was vitiated for breach of natural justice because the show-cause notice failed to disclose the materials underpinning the allegation of tax evasion, depriving the petitioner of an opportunity to reply; such procedural infirmity is incurable at appellate stages. Consequently, the adjudicating authority's rectification order dated 16.10.2023 insofar as it confirmed a demand of Rs. 40,37,877/- was set aside and quashed; the appellate authority's order dated 17.02.2025 upholding that finding and the consequent demand notice of 17.02.2025 were likewise set aside and quashed. The writ petition was disposed of.
The HC held that the adjudicatory process was vitiated for breach of natural justice because the show-cause notice failed to disclose the materials underpinning the allegation of tax evasion, depriving the petitioner of an opportunity to reply; such procedural infirmity is incurable at appellate stages. Consequently, the adjudicating authority's rectification order dated 16.10.2023 insofar as it confirmed a demand of Rs. 40,37,877/- was set aside and quashed; the appellate authority's order dated 17.02.2025 upholding that finding and the consequent demand notice of 17.02.2025 were likewise set aside and quashed. The writ petition was disposed of.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
