Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
A claim of forged Chartered Accountant certificates in a non-resident to resident share transfer failed because the appellant relied only on an uncorroborated denial and produced no independent proof of forgery. The Tribunal noted that the required documents had been routed through the authorised dealer bank, the transaction had been reported, and other material, including a later Chartered Accountant certificate and an invoice linked to the certificates, supported the respondents' version. In the absence of a police complaint or other corroborative evidence, mere suspicion was insufficient to displace the documentary record or establish contravention of the applicable FEMA and RBI transfer and pricing requirements. The appeal was dismissed and the respondents' exoneration was upheld.
A claim of forged Chartered Accountant certificates in a non-resident to resident share transfer failed because the appellant relied only on an uncorroborated denial and produced no independent proof of forgery. The Tribunal noted that the required documents had been routed through the authorised dealer bank, the transaction had been reported, and other material, including a later Chartered Accountant certificate and an invoice linked to the certificates, supported the respondents' version. In the absence of a police complaint or other corroborative evidence, mere suspicion was insufficient to displace the documentary record or establish contravention of the applicable FEMA and RBI transfer and pricing requirements. The appeal was dismissed and the respondents' exoneration was upheld.
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