Authority rules B+G+31 service apartment is commercial building construction, not multi-storey residential for tax classification under RERA definitio...
Resale price method upheld for distribution; assessee's margins accepted and certain transfer-pricing adjustments deleted due to documented reimbursem...
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HC dismissed the revenue's ALP adjustment in respect of advertising, marketing and promotional (AMP) expenses, holding that the addition was precluded by the HC's prior decision in the taxpayer's own case, which was followed by the tribunal; consequently no substantive or protective addition could be sustained on this score. Separately, HC held that the amendment to section 14A of the Act read with Rule 8D cannot be construed as retrospective where it operates to alter the pre-existing legal position despite being framed "for removal of doubts"; such language does not permit retroactive application to change settled law.
HC dismissed the revenue's ALP adjustment in respect of advertising, marketing and promotional (AMP) expenses, holding that the addition was precluded by the HC's prior decision in the taxpayer's own case, which was followed by the tribunal; consequently no substantive or protective addition could be sustained on this score. Separately, HC held that the amendment to section 14A of the Act read with Rule 8D cannot be construed as retrospective where it operates to alter the pre-existing legal position despite being framed "for removal of doubts"; such language does not permit retroactive application to change settled law.
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