Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Section 79 permits recovery of tax dues from third parties without any separate statutory requirement of prior authorization before recovery proceedings are initiated. The High Court found that the jurisdictional Deputy Assistant Commissioner (ST) was the notified proper officer under the Gazette notification, so the notice could not be challenged for want of competence. It also held that once the assessment order had attained finality, no further prior notice to the dealer was required before issuing a garnishee notice to the bank. The recovery notice was therefore lawful and the writ petition was dismissed.
Section 79 permits recovery of tax dues from third parties without any separate statutory requirement of prior authorization before recovery proceedings are initiated. The High Court found that the jurisdictional Deputy Assistant Commissioner (ST) was the notified proper officer under the Gazette notification, so the notice could not be challenged for want of competence. It also held that once the assessment order had attained finality, no further prior notice to the dealer was required before issuing a garnishee notice to the bank. The recovery notice was therefore lawful and the writ petition was dismissed.
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