Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
The Tribunal held that the assessee was a limited risk service provider because it did not own the technical know-how, simulator or infrastructure needed to render the training and technical services, while the associated enterprise bore the relevant performance and commercial risks. On that factual basis, the assessee could not be treated as the principal service provider. The Tribunal then accepted the assessee's TNMM benchmarking, noting that the same functional and risk profile had been accepted in the preceding year and that there was no material change in facts. It also rejected the TPO's reliance on confidentiality restrictions as a ground to disregard the benchmarking, and deleted the transfer pricing adjustment on technical fees paid to the associated enterprise.
The Tribunal held that the assessee was a limited risk service provider because it did not own the technical know-how, simulator or infrastructure needed to render the training and technical services, while the associated enterprise bore the relevant performance and commercial risks. On that factual basis, the assessee could not be treated as the principal service provider. The Tribunal then accepted the assessee's TNMM benchmarking, noting that the same functional and risk profile had been accepted in the preceding year and that there was no material change in facts. It also rejected the TPO's reliance on confidentiality restrictions as a ground to disregard the benchmarking, and deleted the transfer pricing adjustment on technical fees paid to the associated enterprise.
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