Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation.
Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
