Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Interference with a domestic arbitral award under s.37, after affirmance under s.34, was limited to the statutorily prescribed grounds, including "patent illegality" under s.34(2A), which excludes mere erroneous application of law or reappreciation of evidence. "Patent illegality" requires perversity such as findings based on no relevant evidence, ignoring vital evidence, considering extraneous matters, or an irrational conclusion that shocks judicial conscience, and must be applied cautiously. Since the award was supported by some evidence and plausible reasoning, and the arbitrator's approach was a possible view, the appellate court impermissibly reassessed evidence and applied an unduly strict standard of proof; the appeal was allowed and the interference set aside - SC
Interference with a domestic arbitral award under s.37, after affirmance under s.34, was limited to the statutorily prescribed grounds, including "patent illegality" under s.34(2A), which excludes mere erroneous application of law or reappreciation of evidence. "Patent illegality" requires perversity such as findings based on no relevant evidence, ignoring vital evidence, considering extraneous matters, or an irrational conclusion that shocks judicial conscience, and must be applied cautiously. Since the award was supported by some evidence and plausible reasoning, and the arbitrator's approach was a possible view, the appellate court impermissibly reassessed evidence and applied an unduly strict standard of proof; the appeal was allowed and the interference set aside - SC
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