Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Section 80P deduction for a milk co-operative is confined to...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verification.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Section 80P deduction for a milk co-operative is confined to profits from the specified milk-supply business. Interest on an income-tax refund derives from the statutory compensation for excess tax retention, not that business, and is ineligible. Interest from commercial-bank deposits likewise neither arises from the specified business nor qualifies as investment income from another co-operative society. Interest and dividends from investments with co-operative societies may qualify independently of the primary business, subject to entity-wise verification of each investee's co-operative status. Contributions to an approved gratuity fund remain subject to the ordinary annual contribution limit under Rule 103. Interest for delayed TDS deposit is not business expenditure, and a challenge solely to penalty initiation for under-reporting is premature.
Section 80P deduction for a milk co-operative is confined to profits from the specified milk-supply business. Interest on an income-tax refund derives from the statutory compensation for excess tax retention, not that business, and is ineligible. Interest from commercial-bank deposits likewise neither arises from the specified business nor qualifies as investment income from another co-operative society. Interest and dividends from investments with co-operative societies may qualify independently of the primary business, subject to entity-wise verification of each investee's co-operative status. Contributions to an approved gratuity fund remain subject to the ordinary annual contribution limit under Rule 103. Interest for delayed TDS deposit is not business expenditure, and a challenge solely to penalty initiation for under-reporting is premature.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
