Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
The ITAT treated the alleged double addition in income computation, including the set-off of brought forward losses and unabsorbed depreciation, as a connected computational error and remitted the matter for fresh adjudication after hearing the assessee. It also found the transfer pricing adjustment unsustainable because the retained comparables were functionally and product-wise dissimilar to the assessee's manufacturing activity, and held that the assessee's proposed comparables and depreciation policies had to be considered. The transfer pricing issue was likewise set aside and restored to the AO for reconsideration in accordance with law. The appeal was thus allowed for statistical purposes.
The ITAT treated the alleged double addition in income computation, including the set-off of brought forward losses and unabsorbed depreciation, as a connected computational error and remitted the matter for fresh adjudication after hearing the assessee. It also found the transfer pricing adjustment unsustainable because the retained comparables were functionally and product-wise dissimilar to the assessee's manufacturing activity, and held that the assessee's proposed comparables and depreciation policies had to be considered. The transfer pricing issue was likewise set aside and restored to the AO for reconsideration in accordance with law. The appeal was thus allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
