Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Tribunal held that AMP expenses can, in principle, constitute an international transaction but their existence must be established by tangible material rather than by application of the Bright Line Test (BLT). The BLT lacks statutory mandate and cannot be used to compute or convert protective adjustments into substantive TP adjustments. On the facts the assessee's disclosed and adjusted gross margins exceed comparables, so adequacy of compensation for AMP expenses was found and upward transfer pricing adjustments by TPO/DRP were struck down for the years under appeal.
Tribunal held that AMP expenses can, in principle, constitute an international transaction but their existence must be established by tangible material rather than by application of the Bright Line Test (BLT). The BLT lacks statutory mandate and cannot be used to compute or convert protective adjustments into substantive TP adjustments. On the facts the assessee's disclosed and adjusted gross margins exceed comparables, so adequacy of compensation for AMP expenses was found and upward transfer pricing adjustments by TPO/DRP were struck down for the years under appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
