Monthly Archives: October 2026

Royalty Benchmarked Under Aggregated TNMM Cannot Be Segregated and Separately Adjusted for Transfer Pricing

By | October 6, 2026
0 Comment

Royalty Benchmarked Under Aggregated TNMM Cannot Be Segregated and Separately Adjusted for Transfer Pricing Issue Whether payment of royalty on export sales, once benchmarked and accepted under an aggregated TNMM analysis for the manufacturing segment, can be segregated and separately benchmarked for an upward transfer pricing adjustment. Facts The assessee-company was engaged in the manufacturing,… Read More »

Omission of Section 92BA(i) Is Prospective, Comparables Require Functional Similarity, and Feasibility Costs Are Revenue Expenditure

By | October 6, 2026
0 Comment

Omission of Section 92BA(i) Is Prospective, Comparables Require Functional Similarity, and Feasibility Costs Are Revenue Expenditure Issue Whether the omission of Section 92BA(i) by the Finance Act, 2017 applies retrospectively, whether loss-making or functionally different companies can be benchmarked as comparables, and whether preliminary expenses incurred for an abandoned business project are allowable as revenue… Read More »

Reassessment Notice Issued Beyond Limitation and Based on Mere Change of Opinion Is Impermissible

By | October 6, 2026
0 Comment

Reassessment Notice Issued Beyond Limitation and Based on Mere Change of Opinion Is Impermissible Reassessment Notice Issued Beyond Limitation and Based on Mere Change of Opinion Is Impermissible Issue Whether a reassessment notice under Section 148 is valid when issued beyond the prescribed statutory time limit and based on a mere change of opinion after… Read More »

Mere execution of a Tripartite Joint Development Agreement does not constitute a ‘transfer’ under Section 2(47).

By | October 6, 2026
0 Comment

Mere execution of a Tripartite Joint Development Agreement does not constitute a ‘transfer’ under Section 2(47). Issue Whether the mere execution of a Tripartite Joint Development Agreement dated 25.02.2007, without transferring possession or receiving actual accrued consideration, results in a “transfer” attracting capital gains tax for Assessment Year 2007-08 under Section 2(47) of the Income-tax… Read More »

Capital Gains Tax Cannot Be Levied Under Section 2(47) Without Verifying Land Ownership Status

By | October 6, 2026
0 Comment

Capital Gains Tax Cannot Be Levied Under Section 2(47) Without Verifying Land Ownership Status Capital Gains Tax Cannot Be Levied Under Section 2(47) Without Verifying Land Ownership Status Issue Whether capital gains under Section 2(47) can be assessed in the hands of an assessee under a Joint Development Agreement without factual verification of whether he… Read More »

GST CASE LAWS 03.10.2026

By | October 6, 2026
0 Comment

GST CASE LAWS 03.10.2026   Relevant Act Section Case Law Title / Notification Citation Brief Summary Central Excise N/A Notification No. 52/2026-Central Excise Click Here Special Additional Excise Duty (SAED) on export of high-speed diesel oil is reduced from ₹20 to ₹16 per litre with effect from 01-10-2026 (excluding exports by PSUs to specified countries).… Read More »

INCOME TAX CASE LAWS 03.10.20226

By | October 5, 2026
0 Comment

INCOME TAX CASE LAWS 03.10.20226   Section Case Law Title Brief Summary Citation Relevant Act N/A CBDT Notification Amendment CBDT amended Notification dated March 30, 1988 (substituting clause (ba)) placing Joint Commissioners of Income-tax (Appeals) and Additional Commissioners of Income-tax (Appeals) under the jurisdiction of the respective Pr. CCITs/CCITs within whose jurisdiction they function. Click… Read More »

Capital gains tax cannot be levied under Section 2(47) without verifying whether the assessee was a power-of-attorney holder or the actual landowner.

By | October 5, 2026
0 Comment

Capital gains tax cannot be levied under Section 2(47) without verifying whether the assessee was a power-of-attorney holder or the actual landowner. Issue Whether long-term capital gains under Section 2(47) can be assessed in the hands of an assessee under a Joint Development Agreement without verifying whether he acted merely as a power-of-attorney holder/agent rather… Read More »