Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Transfer pricing adjustments for sales to an associated enterprise were found unsustainable where abnormal business conditions followed the shutdown of the assessee's main customer, because benchmarking had to reflect the extraordinary circumstances and the actual downstream use of the goods. Business expenditure was treated as deductible going concern expenditure: the outlay was incurred to keep trading operations running, and an ad hoc disallowance based on assumed future expansion was rejected. A sale of plant and machinery was held to be an itemised asset sale, not a slump sale, because values were assigned asset-wise and there was no transfer of the undertaking as a whole.
Transfer pricing adjustments for sales to an associated enterprise were found unsustainable where abnormal business conditions followed the shutdown of the assessee's main customer, because benchmarking had to reflect the extraordinary circumstances and the actual downstream use of the goods. Business expenditure was treated as deductible going concern expenditure: the outlay was incurred to keep trading operations running, and an ad hoc disallowance based on assumed future expansion was rejected. A sale of plant and machinery was held to be an itemised asset sale, not a slump sale, because values were assigned asset-wise and there was no transfer of the undertaking as a whole.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
