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Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Section 14A disallowance was rejected where the assessee's interest free own funds exceeded investments in tax exempt instruments, allowing a presumption those funds financed the investments. Expenditure incurred by overseas branches for NRI desks was held to be head office expenditure meeting the tripartite test and therefore subject to the limitation under the head office expenditure rule. Deduction under the business loss provision for bad and doubtful debts must be given effect before applying the head office expenditure limitation. TDS under the nonresident withholding rule arises only on credit or payment; where neither occurred no disallowance under the TDS penal disallowance rule was warranted. A lump sum transfer without asset wise valuation qualified as a slump sale, so the special net worth capital gains computation applies.
Section 14A disallowance was rejected where the assessee's interest free own funds exceeded investments in tax exempt instruments, allowing a presumption those funds financed the investments. Expenditure incurred by overseas branches for NRI desks was held to be head office expenditure meeting the tripartite test and therefore subject to the limitation under the head office expenditure rule. Deduction under the business loss provision for bad and doubtful debts must be given effect before applying the head office expenditure limitation. TDS under the nonresident withholding rule arises only on credit or payment; where neither occurred no disallowance under the TDS penal disallowance rule was warranted. A lump sum transfer without asset wise valuation qualified as a slump sale, so the special net worth capital gains computation applies.
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