Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
