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...
NCLAT held that initiation of perjury proceedings requires prima facie proof of a deliberate falsehood on a matter of substance, supported by distinct evidence and not mere suspicion. The resolution professional's reply affidavit, filed in defence of the CIRP steps and in response to an attempt to reopen the approved plan, did not disclose mala fides or any deceptive statement amounting to perjury, so rejection of that application was upheld. It also affirmed that an approved resolution plan under the IBC is binding on all stakeholders, and that belated attempts to unsettle an unchallenged, implemented plan were frivolous, justifying costs for abuse of process.
NCLAT held that initiation of perjury proceedings requires prima facie proof of a deliberate falsehood on a matter of substance, supported by distinct evidence and not mere suspicion. The resolution professional's reply affidavit, filed in defence of the CIRP steps and in response to an attempt to reopen the approved plan, did not disclose mala fides or any deceptive statement amounting to perjury, so rejection of that application was upheld. It also affirmed that an approved resolution plan under the IBC is binding on all stakeholders, and that belated attempts to unsettle an unchallenged, implemented plan were frivolous, justifying costs for abuse of process.
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