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...
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
