Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Mis-declaration and undervaluation findings premised on email printouts and statements recorded under statutory witness-examination provisions were held inadmissible where procedural safeguards for electronic evidence and witness statements were not observed. The adjudicator failed to record compliance with the requirement for certification of electronic records and to document a panchnama for seized printouts, and did not provide or secure opportunity for effective cross-examination after statements were retracted. For these reasons the re-determination of transaction value and attendant penalties founded on those materials could not be sustained, and the impugned valuation and penalty measures were set aside.
Mis-declaration and undervaluation findings premised on email printouts and statements recorded under statutory witness-examination provisions were held inadmissible where procedural safeguards for electronic evidence and witness statements were not observed. The adjudicator failed to record compliance with the requirement for certification of electronic records and to document a panchnama for seized printouts, and did not provide or secure opportunity for effective cross-examination after statements were retracted. For these reasons the re-determination of transaction value and attendant penalties founded on those materials could not be sustained, and the impugned valuation and penalty measures were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
