Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Section 263 revision turns on the distinction between lack of enquiry and inadequate enquiry. The Tribunal held that revision was justified where the AO had not specifically verified reversal of provision for onerous contract, but any tax on the reversal depends on whether the original provision was earlier allowed, to avoid double taxation; the matter was remitted for factual verification. For bad debts, the Tribunal held that a written-off debt satisfies section 36(1)(vii) and that revisional jurisdiction could not be used to demand further proof of irrecoverability. It also accepted evidence of buy-back tax payment and remitted Ind AS 116 lease adjustment claims for fresh examination under the Act independently of accounting standards.
Section 263 revision turns on the distinction between lack of enquiry and inadequate enquiry. The Tribunal held that revision was justified where the AO had not specifically verified reversal of provision for onerous contract, but any tax on the reversal depends on whether the original provision was earlier allowed, to avoid double taxation; the matter was remitted for factual verification. For bad debts, the Tribunal held that a written-off debt satisfies section 36(1)(vii) and that revisional jurisdiction could not be used to demand further proof of irrecoverability. It also accepted evidence of buy-back tax payment and remitted Ind AS 116 lease adjustment claims for fresh examination under the Act independently of accounting standards.
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