Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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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