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...
Government grants earmarked for specified purposes and subject to utilisation restrictions do not constitute the recipient's income; accordingly, an unspent micro-irrigation scheme grant was not taxable. Interest payable on unutilised grant under applicable Government resolutions was treated as an allowable liability. Under the block-of-assets principle, depreciation remains available where business assets form part of a used block, even if individual assets have been retired from active use; simultaneous use of every asset is unnecessary. The related depreciation disallowance was deleted, and the capital-gains issue was treated as academic.
Government grants earmarked for specified purposes and subject to utilisation restrictions do not constitute the recipient's income; accordingly, an unspent micro-irrigation scheme grant was not taxable. Interest payable on unutilised grant under applicable Government resolutions was treated as an allowable liability. Under the block-of-assets principle, depreciation remains available where business assets form part of a used block, even if individual assets have been retired from active use; simultaneous use of every asset is unnecessary. The related depreciation disallowance was deleted, and the capital-gains issue was treated as academic.
Note: It is a system-generated summary and is for quick reference only.
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