Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
ITAT upholds the assessment under s.143(3) read with s.144C(13), finding the reference under s.92CA(1) valid and the TPO acted within jurisdiction; the assessment order is not void and Grounds 1-3 are dismissed. The Project Office is characterized as merely an executing arm of the Head Office; transfer pricing adjustments for onshore services are sustained as the taxpayer failed to demonstrate arm's-length remuneration. For offshore supplies, the Tribunal concludes the Project Office's post-supply obligations created a taxable nexus in India, justifying attribution under s.9 and Article 7 of the India-China DTAA. The CUP method is rejected as the MAM due to lack of strict comparability; the impugned TP adjustments are consequently upheld.
ITAT upholds the assessment under s.143(3) read with s.144C(13), finding the reference under s.92CA(1) valid and the TPO acted within jurisdiction; the assessment order is not void and Grounds 1-3 are dismissed. The Project Office is characterized as merely an executing arm of the Head Office; transfer pricing adjustments for onshore services are sustained as the taxpayer failed to demonstrate arm's-length remuneration. For offshore supplies, the Tribunal concludes the Project Office's post-supply obligations created a taxable nexus in India, justifying attribution under s.9 and Article 7 of the India-China DTAA. The CUP method is rejected as the MAM due to lack of strict comparability; the impugned TP adjustments are consequently upheld.
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