Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Writ jurisdiction against a show cause notice is not barred in all cases and may be invoked where there is patent lack of jurisdiction, abuse of process, non-application of mind or breach of natural justice; the High Court's refusal to entertain the challenge on maintainability alone was therefore unjustified. Under Section 37A FEMA, seizure depends on a substantive "reason to believe" that the foreign asset is held in contravention of Section 4, and refusal by the Competent Authority to confirm seizure is a considered finding that the threshold was not met. The High Court and the final adjudication order were set aside because they proceeded as if seizure had been confirmed and impaired the pending departmental appeal; the matter was restored to the show cause stage, with the appeal to be decided first.
Writ jurisdiction against a show cause notice is not barred in all cases and may be invoked where there is patent lack of jurisdiction, abuse of process, non-application of mind or breach of natural justice; the High Court's refusal to entertain the challenge on maintainability alone was therefore unjustified. Under Section 37A FEMA, seizure depends on a substantive "reason to believe" that the foreign asset is held in contravention of Section 4, and refusal by the Competent Authority to confirm seizure is a considered finding that the threshold was not met. The High Court and the final adjudication order were set aside because they proceeded as if seizure had been confirmed and impaired the pending departmental appeal; the matter was restored to the show cause stage, with the appeal to be decided first.
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