Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Revision u/s 263 - SCN related to taxability of unsold flats - amendment introduced by the Finance Act, 2017 w.e.f. 1/4/2018 - When the assessment order was passed on 31.03.2016, relevant provision has not even been brought into statute book - AO cannot be expected to apply the same - the assessment order cannot be said to be erroneous and prejudicial to the interest of the Revenue - order of the CIT quashed
Revision u/s 263 - SCN related to taxability of unsold flats - amendment introduced by the Finance Act, 2017 w.e.f. 1/4/2018 - When the assessment order was passed on 31.03.2016, relevant provision has not even been brought into statute book - AO cannot be expected to apply the same - the assessment order cannot be said to be erroneous and prejudicial to the interest of the Revenue - order of the CIT quashed
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