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...
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Concessional excise duty for power-driven pumps primarily designed to handle water requires strict satisfaction of the exemption conditions. "Water", undefined in the tariff, is understood in common and commercial parlance as clean water, excluding sewage and drainage water. Sewage and drainage pumps were therefore ineligible where their design and manufacturing differed from water-handling pumps; differential duty with applicable interest remained payable. An unimplemented audit objection did not create res judicata, and distinct tax periods have separate causes of action. Penalty for wrongful availment was set aside because the circumstances did not establish grounds warranting its imposition.
Concessional excise duty for power-driven pumps primarily designed to handle water requires strict satisfaction of the exemption conditions. "Water", undefined in the tariff, is understood in common and commercial parlance as clean water, excluding sewage and drainage water. Sewage and drainage pumps were therefore ineligible where their design and manufacturing differed from water-handling pumps; differential duty with applicable interest remained payable. An unimplemented audit objection did not create res judicata, and distinct tax periods have separate causes of action. Penalty for wrongful availment was set aside because the circumstances did not establish grounds warranting its imposition.
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