Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
Denial of SEIS benefits for FY 2016-17 on the ground that foreign exchange was realized in FY 2017-18 was held unsustainable because the prescribed form expressly permits claiming SEIS for foreign exchange earned in a financial year against services exported in the preceding year, and the relevant criterion is earning/realization of foreign exchange, not the year of export; the rejection order and consequential communication were set aside. Denial of SEIS benefits for components such as travel/transport, inspection, R&D, software, and re-invoicing was also held erroneous since these were integral to the exported engineering services and, once foreign exchange was earned for them, they were eligible; the matter was disposed with directions allowing the claim. - HC
Denial of SEIS benefits for FY 2016-17 on the ground that foreign exchange was realized in FY 2017-18 was held unsustainable because the prescribed form expressly permits claiming SEIS for foreign exchange earned in a financial year against services exported in the preceding year, and the relevant criterion is earning/realization of foreign exchange, not the year of export; the rejection order and consequential communication were set aside. Denial of SEIS benefits for components such as travel/transport, inspection, R&D, software, and re-invoicing was also held erroneous since these were integral to the exported engineering services and, once foreign exchange was earned for them, they were eligible; the matter was disposed with directions allowing the claim. - HC
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