Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
In transfer pricing for export of data processing and office support services, comparability must be tested on both export turnover and functional similarity. Cepha Imaging Pvt. Ltd. could not be accepted or rejected merely by verifying export turnover; the Tribunal was required to examine whether its e-publishing activity was functionally comparable to IT-enabled services, especially in light of the CBDT notification excluding e-publishing. CG Vak Software & Exports Ltd. was also held to be an unsuitable comparable because the extreme disparity in turnover and scale of operations materially affected comparability. The TPO was therefore directed to reassess Cepha Imaging on functional similarity and CG Vak was excluded as a comparable.
In transfer pricing for export of data processing and office support services, comparability must be tested on both export turnover and functional similarity. Cepha Imaging Pvt. Ltd. could not be accepted or rejected merely by verifying export turnover; the Tribunal was required to examine whether its e-publishing activity was functionally comparable to IT-enabled services, especially in light of the CBDT notification excluding e-publishing. CG Vak Software & Exports Ltd. was also held to be an unsuitable comparable because the extreme disparity in turnover and scale of operations materially affected comparability. The TPO was therefore directed to reassess Cepha Imaging on functional similarity and CG Vak was excluded as a comparable.
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