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...
Territorial jurisdiction over an income-tax appeal and a related cross-objection is ordinarily determined by the office location of the Assessing Officer who issued the assessment order, rather than the assessee's location or that of the appellate authority. Where the assessment order originated from the Chennai Assessing Officer, the Mumbai Bench lacked jurisdiction over both proceedings. The appeal and cross-objection were dismissed without examination on merits, with liberty to approach the appropriate Bench. Merits remained open, and time spent before the Mumbai Bench may be considered under delay-condonation law.
Territorial jurisdiction over an income-tax appeal and a related cross-objection is ordinarily determined by the office location of the Assessing Officer who issued the assessment order, rather than the assessee's location or that of the appellate authority. Where the assessment order originated from the Chennai Assessing Officer, the Mumbai Bench lacked jurisdiction over both proceedings. The appeal and cross-objection were dismissed without examination on merits, with liberty to approach the appropriate Bench. Merits remained open, and time spent before the Mumbai Bench may be considered under delay-condonation law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
