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...
The HC set aside the impugned adjudication order for violation of principles of natural justice, holding that the adjudicating authority failed to fix a personal hearing date, did not consider the noticee's furnished reply, and omitted to issue a fresh hearing notice for the subsequently appointed date. The petition is disposed of subject to the petitioner depositing Rs. 8,17,000 within one month; upon such deposit the appellate/assessment proceedings shall be remitted for fresh adjudication in accordance with statutory requirements of notice, opportunity of personal hearing, and reasoned consideration of the noticee's objections. Non-compliance with the deposit condition will render the order liable to be reinstated.
The HC set aside the impugned adjudication order for violation of principles of natural justice, holding that the adjudicating authority failed to fix a personal hearing date, did not consider the noticee's furnished reply, and omitted to issue a fresh hearing notice for the subsequently appointed date. The petition is disposed of subject to the petitioner depositing Rs. 8,17,000 within one month; upon such deposit the appellate/assessment proceedings shall be remitted for fresh adjudication in accordance with statutory requirements of notice, opportunity of personal hearing, and reasoned consideration of the noticee's objections. Non-compliance with the deposit condition will render the order liable to be reinstated.
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