Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
Segmentation of business for transfer pricing was held determinative: the tribunal accepted the assessee's segmental accounts and prior-year coordinate-bench finding that two distinct segments exist (AMC services; agency/marketing support), and concluded the TPO should not aggregate them for TNMM benchmarking without fresh verification. The tribunal noted provided bases for allocation of common expenses and that lack of audit alone does not invalidate segmental accounts. Matter remitted to TPO for limited verification of segmental accounts, comparable selection and computation of PLI, with opportunity to be heard; if segmental PLIs fall within tolerance, no adjustment follows.
Segmentation of business for transfer pricing was held determinative: the tribunal accepted the assessee's segmental accounts and prior-year coordinate-bench finding that two distinct segments exist (AMC services; agency/marketing support), and concluded the TPO should not aggregate them for TNMM benchmarking without fresh verification. The tribunal noted provided bases for allocation of common expenses and that lack of audit alone does not invalidate segmental accounts. Matter remitted to TPO for limited verification of segmental accounts, comparable selection and computation of PLI, with opportunity to be heard; if segmental PLIs fall within tolerance, no adjustment follows.
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