Head Office cost allocation requires prescribed transfer-pricing methods; treaty ceilings bar surcharge and cess, while duplicate taxation is excluded...
Cost-to-cost reimbursement of seconded employees is not service consideration; transfer-pricing markup was deleted and amalgamation amortisation allow...
Crystallisation of liability supports prior-period expense deduction, while functionally distinct divisions require separate transfer-pricing benchmar...
Functional comparability under TNMM requires transaction-specific FAR analysis before benchmarking business-support services provided to associated en...
Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
GST appeals should not be rejected solely for non-appearance where sufficient cause exists and the substantive input tax credit dispute remains unexamined. A mismatch between GSTR-3B and GSTR-2A/GSTR-2B does not, by itself, establish wrongful ITC availment; compliance must be verified against invoices, books of account, supplier details, payment records and other transaction evidence. For FY 2017-18 pending proceedings, the applicable verification mechanism should be applied. A subsequently issued CA/CMA certificate may be considered as corroborative evidence if verifiable from contemporaneous records. Fresh determination should address the mismatch, certificate, ledgers and reconciliation before sustaining tax, interest or penalty.
GST appeals should not be rejected solely for non-appearance where sufficient cause exists and the substantive input tax credit dispute remains unexamined. A mismatch between GSTR-3B and GSTR-2A/GSTR-2B does not, by itself, establish wrongful ITC availment; compliance must be verified against invoices, books of account, supplier details, payment records and other transaction evidence. For FY 2017-18 pending proceedings, the applicable verification mechanism should be applied. A subsequently issued CA/CMA certificate may be considered as corroborative evidence if verifiable from contemporaneous records. Fresh determination should address the mismatch, certificate, ledgers and reconciliation before sustaining tax, interest or penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4908 
