Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
Transfer pricing issue concerned royalty paid to an associated enterprise where the adjustment was negated in favour of the taxpayer because the earlier appellate decision in the taxpayer's own case on the same issue precluded fresh adjustment; the assessing officer had relied on a prior TPO finding but the appellate precedent established nil ALP, resulting in relief. Separately, claim for deduction under the industrial/infrastructure undertaking provision for participation in a micro irrigation project was allowed after the taxpayer produced execution copies, invoices, payments and certificates; a typographical error in the agreement party name was held not to defeat entitlement and the revenue failed to rebut the evidence.
Transfer pricing issue concerned royalty paid to an associated enterprise where the adjustment was negated in favour of the taxpayer because the earlier appellate decision in the taxpayer's own case on the same issue precluded fresh adjustment; the assessing officer had relied on a prior TPO finding but the appellate precedent established nil ALP, resulting in relief. Separately, claim for deduction under the industrial/infrastructure undertaking provision for participation in a micro irrigation project was allowed after the taxpayer produced execution copies, invoices, payments and certificates; a typographical error in the agreement party name was held not to defeat entitlement and the revenue failed to rebut the evidence.
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