Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Presumption of service of a statutory demand notice was not upheld where the postal endorsement of the addressee being absent for seven days, without more, did not prove deemed service and the complainant led no further evidence to dislodge the defence of absence due to illness at home. The court also held that the statutory presumption under Section 139 was rebutted on a preponderance of probabilities because the alleged loan transaction was not reliably proved: the date of advance was unspecified, no written agreement existed, and the defence that the cheques related to a chit-fund business was found probable. Section 138 was therefore not attracted and the acquittal was affirmed.
Presumption of service of a statutory demand notice was not upheld where the postal endorsement of the addressee being absent for seven days, without more, did not prove deemed service and the complainant led no further evidence to dislodge the defence of absence due to illness at home. The court also held that the statutory presumption under Section 139 was rebutted on a preponderance of probabilities because the alleged loan transaction was not reliably proved: the date of advance was unspecified, no written agreement existed, and the defence that the cheques related to a chit-fund business was found probable. Section 138 was therefore not attracted and the acquittal was affirmed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
