Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
Exemption for non-air-conditioned restaurant services survives where the establishment's air-conditioned section is separately identifiable and taxabl...
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AMP expenditure incurred in India for the assessee's own sales and promotion could not be treated as an international transaction merely because it may incidentally benefit the foreign associated enterprise's brand. An agreement, arrangement or understanding between the parties is a condition precedent for transfer pricing adjustment, and higher expenditure or presumed brand-building benefit is insufficient. On that basis, the AMP adjustment was deleted. Consequentially, the AO was directed to allow set off of brought forward business loss and unabsorbed depreciation in accordance with law after giving a reasonable opportunity of being heard.
AMP expenditure incurred in India for the assessee's own sales and promotion could not be treated as an international transaction merely because it may incidentally benefit the foreign associated enterprise's brand. An agreement, arrangement or understanding between the parties is a condition precedent for transfer pricing adjustment, and higher expenditure or presumed brand-building benefit is insufficient. On that basis, the AMP adjustment was deleted. Consequentially, the AO was directed to allow set off of brought forward business loss and unabsorbed depreciation in accordance with law after giving a reasonable opportunity of being heard.
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