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...
Anti profiteering provisions are treated as consumer protective and the six month period in Rule 133 is directory, so proceedings are not time barred. Where a supplier increased base prices coincident with a GST rate reduction, the presumption that tax benefit was not passed applies and the supplier is required to disgorge the profiteered amount. Interest on the disgorged amount can be imposed only from the date the interest clause became effective (28.06.2019). Penalty under the provision that came into force later cannot be applied retrospectively. Half the recovered amount is directed to the central consumer welfare fund and half to the state fund.
Anti profiteering provisions are treated as consumer protective and the six month period in Rule 133 is directory, so proceedings are not time barred. Where a supplier increased base prices coincident with a GST rate reduction, the presumption that tax benefit was not passed applies and the supplier is required to disgorge the profiteered amount. Interest on the disgorged amount can be imposed only from the date the interest clause became effective (28.06.2019). Penalty under the provision that came into force later cannot be applied retrospectively. Half the recovered amount is directed to the central consumer welfare fund and half to the state fund.
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