Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
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The MPID Act was held to have overriding effect in a dispute over seized funds linked to investor claims, and the Special Court was found competent to decide release of the money despite seizure under the Income-tax Act and objections based on the PMLA. The Court relied on the direct nexus between the funds and investors' claims, and on the purpose of the MPID Act as protective depositor legislation that cannot be displaced by enactments operating in a different field. It also upheld release of the money to an escrow mechanism for investor restitution, noting that the settlement contemplated that course and that the release was justified on the facts. The appeal was dismissed.
The MPID Act was held to have overriding effect in a dispute over seized funds linked to investor claims, and the Special Court was found competent to decide release of the money despite seizure under the Income-tax Act and objections based on the PMLA. The Court relied on the direct nexus between the funds and investors' claims, and on the purpose of the MPID Act as protective depositor legislation that cannot be displaced by enactments operating in a different field. It also upheld release of the money to an escrow mechanism for investor restitution, noting that the settlement contemplated that course and that the release was justified on the facts. The appeal was dismissed.
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