Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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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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