Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Transfer pricing of interest on external commercial borrowings must be benchmarked on the correct factual and contractual terms for each year. For ECB1, the lender's assignment, change in jurisdiction, shift from floating to fixed interest for part of the year, and extension of maturity materially affected comparability, so the ALP issue was remitted for fresh determination. The RBI all-in-cost ceiling was held to be only a regulatory cap and a corroborative factor, not a substitute for ALP determination under transfer pricing rules. For ECB2, the Tribunal found incorrect use of floating-rate comparables and failure to consider the assessee's Bloomberg-based study, so the ALP was also set aside for fresh benchmarking.
Transfer pricing of interest on external commercial borrowings must be benchmarked on the correct factual and contractual terms for each year. For ECB1, the lender's assignment, change in jurisdiction, shift from floating to fixed interest for part of the year, and extension of maturity materially affected comparability, so the ALP issue was remitted for fresh determination. The RBI all-in-cost ceiling was held to be only a regulatory cap and a corroborative factor, not a substitute for ALP determination under transfer pricing rules. For ECB2, the Tribunal found incorrect use of floating-rate comparables and failure to consider the assessee's Bloomberg-based study, so the ALP was also set aside for fresh benchmarking.
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