GST refund limitation: COVID-19 exclusion preserves timely advance-tax refunds, while deficiency-memo corrections relate back to the original applicat...
Presumptive taxation of oilfield services applies to receipts inextricably connected with mineral-oil operations, while qualifying offshore supplies r...
Government financing for educational exemptions includes UGC grants and land-related notional interest, eliminating penalties tied to deleted addition...
Transfer-pricing adjustments require a functional, asset and risk-based selection of the tested party and reliable functionally comparable data; operating PLI items must be assessed by their nexus with operations and consistently with comparables. Any adjustment must be confined to relevant associated-enterprise international transactions, requiring fresh examination. DCF valuation of CCPS may be scrutinised on valuation-date assumptions, but cannot be replaced by alternative assumptions without a cogent technical basis; the share-premium addition was deleted. ESOP expenditure recognised over vesting is deductible under section 37(1) where statutory conditions and accepted fair value are satisfied, despite no cash outflow; duplicate disallowance for subsidiary employees is impermissible. The ESOP disallowance was deleted.
Transfer-pricing adjustments require a functional, asset and risk-based selection of the tested party and reliable functionally comparable data; operating PLI items must be assessed by their nexus with operations and consistently with comparables. Any adjustment must be confined to relevant associated-enterprise international transactions, requiring fresh examination. DCF valuation of CCPS may be scrutinised on valuation-date assumptions, but cannot be replaced by alternative assumptions without a cogent technical basis; the share-premium addition was deleted. ESOP expenditure recognised over vesting is deductible under section 37(1) where statutory conditions and accepted fair value are satisfied, despite no cash outflow; duplicate disallowance for subsidiary employees is impermissible. The ESOP disallowance was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
