Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
An assessment order passed against a deceased person was held invalid as proceedings can be initiated only against a living person; however, Section 93 permits recovery of GST dues from the deceased's business or estate. In the absence of an express procedure, the assessment must be redone by involving the representative carrying on the business, or where the business is not carried on, the legal representative holding the estate. Accordingly, the impugned assessment order was set aside and a fresh assessment was directed after issuing notice to and involving the legal representative. Any post-assessment recovery was confined to the deceased's estate and only to the extent of estate available with the legal representative. - HC
An assessment order passed against a deceased person was held invalid as proceedings can be initiated only against a living person; however, Section 93 permits recovery of GST dues from the deceased's business or estate. In the absence of an express procedure, the assessment must be redone by involving the representative carrying on the business, or where the business is not carried on, the legal representative holding the estate. Accordingly, the impugned assessment order was set aside and a fresh assessment was directed after issuing notice to and involving the legal representative. Any post-assessment recovery was confined to the deceased's estate and only to the extent of estate available with the legal representative. - HC
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