Transfer-pricing treatment of corporate guarantees and convertible loans followed prior-year consistency, with taxable foreign dividends excluded from...
Transfer-pricing benchmarking confines adjustments to associated-enterprise transactions and integrates delayed receivables through TNMM working-capit...
Medical relief status protects government-contracted mobile healthcare from commercial classification, while provisional registration cancellation req...
Charitable registration cancellation requires proof that educational activities abandoned their objects; incidental receipts and retained surplus are ...
Prospective customs notification amendments cannot bar provisional release consideration for earlier imports when bills of lading predate their commen...
Penalty for deemed income based solely on stamp-duty valuation is not justified where the taxpayer disclosed the registered deed, bank statements and payment details, and there is no finding that actual consideration exceeded the stated amount or that disclosures were false. Although statutory substitution of stamp-duty value can support an assessment addition, it does not alone establish concealment or inaccurate particulars, and the conditions for penalty are not met where the explanation is not found false. Acceptance of the addition does not admit that the stated consideration was untrue. Conversely, a notice expressly alleging concealment provides a specific charge when the penalty rests on that same allegation.
Penalty for deemed income based solely on stamp-duty valuation is not justified where the taxpayer disclosed the registered deed, bank statements and payment details, and there is no finding that actual consideration exceeded the stated amount or that disclosures were false. Although statutory substitution of stamp-duty value can support an assessment addition, it does not alone establish concealment or inaccurate particulars, and the conditions for penalty are not met where the explanation is not found false. Acceptance of the addition does not admit that the stated consideration was untrue. Conversely, a notice expressly alleging concealment provides a specific charge when the penalty rests on that same allegation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
