Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
Coercive recovery of the tax demand was restrained during pendency of the assessee's appeal because the tax auditor had issued a clarification that the Form-3CD figures reflected a technical or typographical error, and a revised Form-3CD with corrected figures had been filed. As the assessment order and demand were under appellate challenge, the court protected the assessee from recovery action until the appeal was decided, while leaving the merits to the appellate authority. The appeal was also directed to be disposed of expeditiously so the corrected figures could be considered in due course.
Coercive recovery of the tax demand was restrained during pendency of the assessee's appeal because the tax auditor had issued a clarification that the Form-3CD figures reflected a technical or typographical error, and a revised Form-3CD with corrected figures had been filed. As the assessment order and demand were under appellate challenge, the court protected the assessee from recovery action until the appeal was decided, while leaving the merits to the appellate authority. The appeal was also directed to be disposed of expeditiously so the corrected figures could be considered in due course.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4790
Join Channel
TaxTMI 
