Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Determination of turnover for tax audit u/s 44AB - The A.O. in the assessment order has referred to share trading guidance note on tax audit under Section 44AB of the Income Tax Act published by ICAI, but noted that these have not been recognised by the Department, therefore, same are not binding upon the Department. The A.O, however, taken note of the same and applied to some extent for the purpose of computing the turnover of the assessee. The A.O. cannot go in both ways
Determination of turnover for tax audit u/s 44AB - The A.O. in the assessment order has referred to share trading guidance note on tax audit under Section 44AB of the Income Tax Act published by ICAI, but noted that these have not been recognised by the Department, therefore, same are not binding upon the Department. The A.O, however, taken note of the same and applied to some extent for the purpose of computing the turnover of the assessee. The A.O. cannot go in both ways
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