SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Statutory accumulation of 15 per cent of charitable income under section 11(1)(a) is distinct from further accumulation under section 11(2). Where charitable eligibility and application of income to charitable objects are satisfied, the statutory retention remains available. Accumulation beyond that limit may be claimed where Form No. 10 is furnished by the extended due date for filing the return, rather than only by the original due date. Charitable exemption should not be denied solely because Form No. 10BB was electronically furnished late if the audit report was available before return processing and substantive exemption conditions were met.
Statutory accumulation of 15 per cent of charitable income under section 11(1)(a) is distinct from further accumulation under section 11(2). Where charitable eligibility and application of income to charitable objects are satisfied, the statutory retention remains available. Accumulation beyond that limit may be claimed where Form No. 10 is furnished by the extended due date for filing the return, rather than only by the original due date. Charitable exemption should not be denied solely because Form No. 10BB was electronically furnished late if the audit report was available before return processing and substantive exemption conditions were met.
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TaxTMI 
TaxTMI 
of 4886 
