Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
Special Audit u/s.142 (2A) - granting extension for the further period - A power which has been given to a specified authority has to be discharged only by him. Substitution of that officer/authority by any other officer, may be of higher rank, cannot validate the said order/ action - In this case, the extension has not been given by the AO but by the CIT, Central-II and the AO has only conveyed the approval - accordingly the assessment completed after the due date is held to be void ab initio.
Special Audit u/s.142 (2A) - granting extension for the further period - A power which has been given to a specified authority has to be discharged only by him. Substitution of that officer/authority by any other officer, may be of higher rank, cannot validate the said order/ action - In this case, the extension has not been given by the AO but by the CIT, Central-II and the AO has only conveyed the approval - accordingly the assessment completed after the due date is held to be void ab initio.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
