Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Employee travel, hospitality, conveyance, tickets, goods, and hotel boarding expenses were held to fall within the statutory heads of fringe benefits under section 115WB(1)(b) read with section 115WB(2), so the Tribunal upheld the quantum assessment on those items. The Commissioner (Appeals) was also found to have issued only a limited consequential direction to verify tax already paid and finalise computation, not an impermissible fresh remand on merits. On penalty, the Tribunal sustained cancellation under section 271(1)(d), holding that rejection of the assessee's exclusion claim in quantum proceedings did not by itself establish inaccurate particulars, following Reliance Petroproducts.
Employee travel, hospitality, conveyance, tickets, goods, and hotel boarding expenses were held to fall within the statutory heads of fringe benefits under section 115WB(1)(b) read with section 115WB(2), so the Tribunal upheld the quantum assessment on those items. The Commissioner (Appeals) was also found to have issued only a limited consequential direction to verify tax already paid and finalise computation, not an impermissible fresh remand on merits. On penalty, the Tribunal sustained cancellation under section 271(1)(d), holding that rejection of the assessee's exclusion claim in quantum proceedings did not by itself establish inaccurate particulars, following Reliance Petroproducts.
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