Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
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...
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Year-end estimated expenditure provisions, where invoices, precise liabilities and payees remain unascertained, do not amount to credit of an ascertainable sum to an identified payee under the mercantile system. Tax-deduction obligations therefore arise only when liabilities crystallise, with tax deducted where applicable upon receipt of invoices; reversal of the provisions in the succeeding year supports that treatment. A demand for tax-deduction default cannot be sustained merely on creation of such provisions. Further, where the same non-deduction has already led to disallowance of expenditure, it cannot also support a tax-deduction default demand; consequential interest fails with the principal demand.
Year-end estimated expenditure provisions, where invoices, precise liabilities and payees remain unascertained, do not amount to credit of an ascertainable sum to an identified payee under the mercantile system. Tax-deduction obligations therefore arise only when liabilities crystallise, with tax deducted where applicable upon receipt of invoices; reversal of the provisions in the succeeding year supports that treatment. A demand for tax-deduction default cannot be sustained merely on creation of such provisions. Further, where the same non-deduction has already led to disallowance of expenditure, it cannot also support a tax-deduction default demand; consequential interest fails with the principal demand.
Note: It is a system-generated summary and is for quick reference only.