Prospective customs notification amendments cannot bar provisional release consideration for earlier imports when bills of lading predate their commen...
Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Deletion of a negative working-capital adjustment in...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range claim.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Deletion of a negative working-capital adjustment in rectification proceedings required implementation through a consequential appeal-effect order. The Assessing Officer was required to consider whether, after that deletion, the taxpayer's margin fell within the permissible arm's-length range and could reach a contrary conclusion only after giving a reasonable opportunity of hearing. The appeal-effect order was directed to be passed within 15 days, with liberty to seek revival if the consequential order caused grievance.
Deletion of a negative working-capital adjustment in rectification proceedings required implementation through a consequential appeal-effect order. The Assessing Officer was required to consider whether, after that deletion, the taxpayer's margin fell within the permissible arm's-length range and could reach a contrary conclusion only after giving a reasonable opportunity of hearing. The appeal-effect order was directed to be passed within 15 days, with liberty to seek revival if the consequential order caused grievance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
