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...
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
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