Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
Before invoking Chapter X transfer pricing provisions, the assessee contended that the Assessing Officer must first establish that the alleged income arises from an international transaction chargeable to tax in India, including under the DTAA, and that the reference to the TPO without such determination was jurisdictionally defective. The Revenue sought time to reply, and the Court directed filing of an affidavit in reply and listed the matter for ad-interim relief. Pending disposal of the writ petition, the Court granted ad-interim stay of the show cause notice, impugned order, reference to the Transfer Pricing Officer, and the assessment proceedings, without prejudice to the parties' rights and contentions.
Before invoking Chapter X transfer pricing provisions, the assessee contended that the Assessing Officer must first establish that the alleged income arises from an international transaction chargeable to tax in India, including under the DTAA, and that the reference to the TPO without such determination was jurisdictionally defective. The Revenue sought time to reply, and the Court directed filing of an affidavit in reply and listed the matter for ad-interim relief. Pending disposal of the writ petition, the Court granted ad-interim stay of the show cause notice, impugned order, reference to the Transfer Pricing Officer, and the assessment proceedings, without prejudice to the parties' rights and contentions.
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