Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
An APA covering the relevant year required the Arm's Length Price for international transactions to be reconsidered with reference to the APA terms, so the Assessing Officer was directed to rework the transfer pricing adjustment in accordance with law. The MAT book profit adjustment was also sent back because the assessment order did not discuss the addition and the assessee had not been given an opportunity of hearing; the officer was directed to reconsider the book profit computation after hearing the assessee and in light of the section 143(1) intimation. The interest and fee computation was remanded for verification of the extended due date, and interest under section 234B was held mandatory, subject to consequential recomputation after giving effect to the revised figures.
An APA covering the relevant year required the Arm's Length Price for international transactions to be reconsidered with reference to the APA terms, so the Assessing Officer was directed to rework the transfer pricing adjustment in accordance with law. The MAT book profit adjustment was also sent back because the assessment order did not discuss the addition and the assessee had not been given an opportunity of hearing; the officer was directed to reconsider the book profit computation after hearing the assessee and in light of the section 143(1) intimation. The interest and fee computation was remanded for verification of the extended due date, and interest under section 234B was held mandatory, subject to consequential recomputation after giving effect to the revised figures.
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