Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Foreign exchange fluctuation arising from international transactions for provision of specified products/services under a cost-plus arrangement was held to be operating in nature, since the gain/loss directly emanated from trading items linked to the controlled transactions; accordingly, treating the foreign exchange loss as non-operating cost for TP computation was impermissible and the adjustment on that basis was set aside. On benchmarking, the challenge to the price applied/proposed in an uncontrolled transaction and the related selection/exclusion of comparables was decided in favour of the assessee, resulting in deletion/relief from the impugned TP adjustments. - HC
Foreign exchange fluctuation arising from international transactions for provision of specified products/services under a cost-plus arrangement was held to be operating in nature, since the gain/loss directly emanated from trading items linked to the controlled transactions; accordingly, treating the foreign exchange loss as non-operating cost for TP computation was impermissible and the adjustment on that basis was set aside. On benchmarking, the challenge to the price applied/proposed in an uncontrolled transaction and the related selection/exclusion of comparables was decided in favour of the assessee, resulting in deletion/relief from the impugned TP adjustments. - HC
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