AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Rectification of a return could not be used to enhance business income where amounts such as rent, dividend and bank interest had already been disclosed under their proper heads, because the same sums were again added to business income due to a return-filing error. On examining the return, profit and loss account and computation, the Tribunal accepted that income taxable under other heads had to be reduced from business income when computing net profit. The rectification order was based on an incorrect appreciation of the computation, and the impugned addition was deleted.
Rectification of a return could not be used to enhance business income where amounts such as rent, dividend and bank interest had already been disclosed under their proper heads, because the same sums were again added to business income due to a return-filing error. On examining the return, profit and loss account and computation, the Tribunal accepted that income taxable under other heads had to be reduced from business income when computing net profit. The rectification order was based on an incorrect appreciation of the computation, and the impugned addition was deleted.
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