TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
Section 260A confines High Court interference with Tribunal findings on rejection of books, income estimation and fee refunds to cases of perversity, lack of evidentiary support or legal error. Where seized material, account books and submissions require factual examination, alternative computations do not themselves create a substantial question of law. Once books are rejected, income and allowable fee refunds may be determined by estimation. The Tribunal may examine the basis and extent of fee-refund relief when the Revenue challenges that relief and the assessee files a cross-objection concerning the sustained addition; this remains within its appellate jurisdiction.
Section 260A confines High Court interference with Tribunal findings on rejection of books, income estimation and fee refunds to cases of perversity, lack of evidentiary support or legal error. Where seized material, account books and submissions require factual examination, alternative computations do not themselves create a substantial question of law. Once books are rejected, income and allowable fee refunds may be determined by estimation. The Tribunal may examine the basis and extent of fee-refund relief when the Revenue challenges that relief and the assessee files a cross-objection concerning the sustained addition; this remains within its appellate jurisdiction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
