Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Omission of clause (i) of section 92BA was treated as having retrospective effect, so the reference to the TPO and the transfer pricing adjustment based on specified domestic transactions was held invalid and deleted. Brokerage paid in the ordinary course of a leasing business was allowed under section 37(1) to the extent supported by invoices and tenant details, while the balance was remitted for verification. Receipts such as car parking income, interest on fixed deposits, permission charges and licence fee were held to have a direct nexus with SEZ business and were treated as eligible for deduction under section 80IAB, making their reclassification as income from other sources unsustainable.
Omission of clause (i) of section 92BA was treated as having retrospective effect, so the reference to the TPO and the transfer pricing adjustment based on specified domestic transactions was held invalid and deleted. Brokerage paid in the ordinary course of a leasing business was allowed under section 37(1) to the extent supported by invoices and tenant details, while the balance was remitted for verification. Receipts such as car parking income, interest on fixed deposits, permission charges and licence fee were held to have a direct nexus with SEZ business and were treated as eligible for deduction under section 80IAB, making their reclassification as income from other sources unsustainable.
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