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...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Levy of penalty under Section 27(3)/27(4) of TNVAT Act - Any alleged admission before the Inspecting Authority cannot be put against the assessee because the Assessing Officer is an independent Authority, who will deal with the matter upon receipt of the report from the Inspecting Wing. Hence, it hardly matters as to what stand was taken by the assessee when the inspection was conducted. Accordingly, so far as the levy of penalty under Section 27(4) of the Act for the assessment year 2009-10 is concerned, the same cannot be sustained. - HC
Levy of penalty under Section 27(3)/27(4) of TNVAT Act - Any alleged admission before the Inspecting Authority cannot be put against the assessee because the Assessing Officer is an independent Authority, who will deal with the matter upon receipt of the report from the Inspecting Wing. Hence, it hardly matters as to what stand was taken by the assessee when the inspection was conducted. Accordingly, so far as the levy of penalty under Section 27(4) of the Act for the assessment year 2009-10 is concerned, the same cannot be sustained. - HC
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