Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Where an assessing authority relies on disputed information to complete assessment, all material in the Department's possession must first be disclosed to the assessee. The High Court held that incomplete invoice-wise CBIC data could not justify an adverse assessment, and no adverse presumption could be drawn from material that was not complete or fully shared unless corroborated by other evidence. Because the assessment proceeded without full disclosure of the departmental record, the order was vitiated for breach of natural justice. The final assessment order was set aside and the matter was remitted for fresh assessment after disclosure of the material and grant of proper opportunity to the assessee.
Where an assessing authority relies on disputed information to complete assessment, all material in the Department's possession must first be disclosed to the assessee. The High Court held that incomplete invoice-wise CBIC data could not justify an adverse assessment, and no adverse presumption could be drawn from material that was not complete or fully shared unless corroborated by other evidence. Because the assessment proceeded without full disclosure of the departmental record, the order was vitiated for breach of natural justice. The final assessment order was set aside and the matter was remitted for fresh assessment after disclosure of the material and grant of proper opportunity to the assessee.
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