Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
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In transfer pricing comparability, Excel Infoways Ltd. was excluded because Tribunal precedent noted low employee cost and fluctuating margins, and that exclusion was upheld. Jindal Intellicom Ltd. was directed to be included in the final comparable set because it had been accepted in the assessee's own earlier year and no material change in functional profile was shown for the relevant year. The Tribunal also held that working capital adjustment must be allowed while giving effect to the order, as differences affecting comparability must be adjusted in the profit margin of independent comparables. Revenue's appeal was dismissed and the assessee's cross-objection was partly allowed.
In transfer pricing comparability, Excel Infoways Ltd. was excluded because Tribunal precedent noted low employee cost and fluctuating margins, and that exclusion was upheld. Jindal Intellicom Ltd. was directed to be included in the final comparable set because it had been accepted in the assessee's own earlier year and no material change in functional profile was shown for the relevant year. The Tribunal also held that working capital adjustment must be allowed while giving effect to the order, as differences affecting comparability must be adjusted in the profit margin of independent comparables. Revenue's appeal was dismissed and the assessee's cross-objection was partly allowed.
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