Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Transfer pricing controversy turned on the correct characterization of transactions between an LLP and its associated enterprise, the proper appreciation of their FAR profiles, and the resulting arm's length pricing analysis. The Tribunal noted that the revenue authorities had relied on assumptions about the entities' activities and risk allocation, while the assessee's claim of cost-to-cost reimbursement had not been tested against complete contemporaneous material, including financials, employee profile, contractual terms and risk assumption. It held that the basis for applying the Profit Split Method was insufficiently reasoned and required fresh examination. The assessment and DRP-backed adjustment were set aside and the matter was restored to the AO/TPO for de novo adjudication and a speaking order.
Transfer pricing controversy turned on the correct characterization of transactions between an LLP and its associated enterprise, the proper appreciation of their FAR profiles, and the resulting arm's length pricing analysis. The Tribunal noted that the revenue authorities had relied on assumptions about the entities' activities and risk allocation, while the assessee's claim of cost-to-cost reimbursement had not been tested against complete contemporaneous material, including financials, employee profile, contractual terms and risk assumption. It held that the basis for applying the Profit Split Method was insufficiently reasoned and required fresh examination. The assessment and DRP-backed adjustment were set aside and the matter was restored to the AO/TPO for de novo adjudication and a speaking order.
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