Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
Receipt of a cheque drawn on an NRE account in Indian currency, without any dealing in foreign exchange or unauthorised conversion, did not amount to a contravention under FERA. The Court held that Section 8(1) applies only where there is acquisition, borrowing, transfer, lending or exchange of foreign exchange otherwise than through an authorised dealer, and that neither the cheque nor the admitted facts satisfied that description. Section 8(2) also did not apply because there was no transaction converting Indian currency into foreign currency, or vice versa, at an unauthorised rate. The penalty was therefore unsustainable, and the objection based on alleged suppression of an earlier prima facie criminal order was rejected.
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