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...
Admissibility of statements recorded under the Customs Act in FEMA proceedings was upheld where those statements were corroborated by independent evidence; retracted confessional statements may be relied upon if supported by corroboration and not shown to be involuntary, and the tribunal accepted prior Supreme Court principles on this point. Digital and physical evidence recovered and examined by GEQD, Hyderabad, including transaction records and slip pads, corroborated payments routed through intermediaries and non-banking channels, supporting findings of contravention of FEMA. Penalties against the principal respondents for contravening FEMA provisions were sustained, while penalties imposed on nominal partners were set aside.
Admissibility of statements recorded under the Customs Act in FEMA proceedings was upheld where those statements were corroborated by independent evidence; retracted confessional statements may be relied upon if supported by corroboration and not shown to be involuntary, and the tribunal accepted prior Supreme Court principles on this point. Digital and physical evidence recovered and examined by GEQD, Hyderabad, including transaction records and slip pads, corroborated payments routed through intermediaries and non-banking channels, supporting findings of contravention of FEMA. Penalties against the principal respondents for contravening FEMA provisions were sustained, while penalties imposed on nominal partners were set aside.
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