Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
Transfer pricing adjustment based on selection of comparables was challenged on the ground that the excluded companies should have been retained. The court upheld exclusion because the fact-finding authority had concluded that the proposed comparables failed the functional similarity test, being engaged in activities other than the tested export service activity, and also failed the 75% export turnover filter since their export income was materially below the threshold while the tested party's revenue was entirely export-derived. As these determinations were pure findings of fact accepted by the appellate tribunal, no substantial question of law arose, and the appeal was dismissed. - HC
Transfer pricing adjustment based on selection of comparables was challenged on the ground that the excluded companies should have been retained. The court upheld exclusion because the fact-finding authority had concluded that the proposed comparables failed the functional similarity test, being engaged in activities other than the tested export service activity, and also failed the 75% export turnover filter since their export income was materially below the threshold while the tested party's revenue was entirely export-derived. As these determinations were pure findings of fact accepted by the appellate tribunal, no substantial question of law arose, and the appeal was dismissed. - HC
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