SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Penalty u/s 271(1)(c) - after learning about the serious irregularities in the activities of the aforesaid institute, acted in a bonafide manner, and in his return filed in compliance to notice issued u/s 148 of the Act, had withdrawn the claim of deduction u/s 35(1)(ii) that was earlier raised by him in the ‘Original’ return of income - there is nothing discernible from record which would conclusively prove to the hilt that the assessee had raised a false claim of deduction. - No penalty.
Penalty u/s 271(1)(c) - after learning about the serious irregularities in the activities of the aforesaid institute, acted in a bonafide manner, and in his return filed in compliance to notice issued u/s 148 of the Act, had withdrawn the claim of deduction u/s 35(1)(ii) that was earlier raised by him in the ‘Original’ return of income - there is nothing discernible from record which would conclusively prove to the hilt that the assessee had raised a false claim of deduction. - No penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4883 
