Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Transfer pricing comparability adjustments were examined on foreign exchange fluctuation, customs duty, price penetration, liability write-back, and capacity utilisation. Consistent treatment of foreign exchange movement as non-operating in earlier and later years led to remand for fresh consideration. Customs duty and price penetration adjustment claims were also remitted because the factual basis and supporting details were not adequately examined. Liability write-back was treated as operating income where the underlying trade payables related to operating expenses, while other breakup items required verification. For capacity utilisation, the Tribunal rejected a depreciation-to-sales adjustment method as not reasonably accurate, but directed recomputation of ALP using cash PLI for the assessee and comparables.
Transfer pricing comparability adjustments were examined on foreign exchange fluctuation, customs duty, price penetration, liability write-back, and capacity utilisation. Consistent treatment of foreign exchange movement as non-operating in earlier and later years led to remand for fresh consideration. Customs duty and price penetration adjustment claims were also remitted because the factual basis and supporting details were not adequately examined. Liability write-back was treated as operating income where the underlying trade payables related to operating expenses, while other breakup items required verification. For capacity utilisation, the Tribunal rejected a depreciation-to-sales adjustment method as not reasonably accurate, but directed recomputation of ALP using cash PLI for the assessee and comparables.
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