Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
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Turnover is a relevant comparability criterion in transfer pricing because scale affects profitability, risk profile, asset base, bargaining power and economies of scale; the Tribunal therefore upheld use of an upper turnover filter and rejected the Revenue's challenge to exclusion of high-turnover comparables. For inclusion of I2T2 India Limited and Cigniti Technologies Limited, the Tribunal held that a comparable cannot be adopted merely by relying on an earlier order without verifying contemporaneous financials, functional profile, applicable filters and segmental data for the year in question; that issue was remanded to the Assessing Officer/TPO for fresh examination after hearing the assessee.
Turnover is a relevant comparability criterion in transfer pricing because scale affects profitability, risk profile, asset base, bargaining power and economies of scale; the Tribunal therefore upheld use of an upper turnover filter and rejected the Revenue's challenge to exclusion of high-turnover comparables. For inclusion of I2T2 India Limited and Cigniti Technologies Limited, the Tribunal held that a comparable cannot be adopted merely by relying on an earlier order without verifying contemporaneous financials, functional profile, applicable filters and segmental data for the year in question; that issue was remanded to the Assessing Officer/TPO for fresh examination after hearing the assessee.
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