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...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
TDS-default proceedings concerning commission paid to travel agents require verification of the actual commission amount and the tax-deduction obligation on payments to foreign agents without a permanent establishment in India. Although the appellate authority treated the objections as directed at the original TDS-default order rather than the rectification order, the rectification record included the assessee's submission that tax had already been deducted on part of the commission. The Tribunal restored the matter to the Assessing Officer for fresh verification, after a final opportunity for the assessee to substantiate its commission claim, and for decision in accordance with law.
TDS-default proceedings concerning commission paid to travel agents require verification of the actual commission amount and the tax-deduction obligation on payments to foreign agents without a permanent establishment in India. Although the appellate authority treated the objections as directed at the original TDS-default order rather than the rectification order, the rectification record included the assessee's submission that tax had already been deducted on part of the commission. The Tribunal restored the matter to the Assessing Officer for fresh verification, after a final opportunity for the assessee to substantiate its commission claim, and for decision in accordance with law.
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