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...
Penalty u/s 271(1)(b) - default of non-compliance of the statutory notice issued under section 142(1) r.w.s. 129 - where the assessment order was finally passed u/s 143(3) and not u/s 144 of the Act due to subsequent compliance during the assessment proceedings, that would be considered as good compliance and the defaults committed earlier should be ignored and by taking a lenient view the penalty u/s 271(1)(b) of the I.T. Act 1961 should not be levied - AT
Penalty u/s 271(1)(b) - default of non-compliance of the statutory notice issued under section 142(1) r.w.s. 129 - where the assessment order was finally passed u/s 143(3) and not u/s 144 of the Act due to subsequent compliance during the assessment proceedings, that would be considered as good compliance and the defaults committed earlier should be ignored and by taking a lenient view the penalty u/s 271(1)(b) of the I.T. Act 1961 should not be levied - AT
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