Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
SEIS-related income had been consistently treated as non-operating, so its reversal was also required to be treated similarly to preserve comparability in TNMM margin analysis. Foreign exchange fluctuation arising from realisation of export receivables was held to be intrinsically linked to publishing support services and therefore operating in nature. On that basis, the assessee's margin fell within the arm's length range and the transfer pricing adjustment on publishing support services was deleted. The Tribunal also held that working capital adjustment is a recognised comparability adjustment under TNMM and cannot be denied merely because daily data is unavailable; reasonable approximations from opening and closing balances may be used. The AO/TPO was directed to grant the adjustment, and no further TP adjustment survived on this issue.
SEIS-related income had been consistently treated as non-operating, so its reversal was also required to be treated similarly to preserve comparability in TNMM margin analysis. Foreign exchange fluctuation arising from realisation of export receivables was held to be intrinsically linked to publishing support services and therefore operating in nature. On that basis, the assessee's margin fell within the arm's length range and the transfer pricing adjustment on publishing support services was deleted. The Tribunal also held that working capital adjustment is a recognised comparability adjustment under TNMM and cannot be denied merely because daily data is unavailable; reasonable approximations from opening and closing balances may be used. The AO/TPO was directed to grant the adjustment, and no further TP adjustment survived on this issue.
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