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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Valuation of the property under gift - Assessment u/s 15(2) of the Gift Tax Act determining the taxable gift - The assessee or her legal heir is now contesting the ownership of the property. Looking at from general principles of law, the burden is on the assessee or her legal heir to prove that the ownership of the property vests with someone else, not the assessee. The entries in Revenue records, or the name of the assessee in Municipal Corporation, are not conclusive as regards the ownership of the property. The Tribunal, therefore, in our considered view, rightly observed that the assessee failed to place contra evidence on the ownership of the property. - HC
Valuation of the property under gift - Assessment u/s 15(2) of the Gift Tax Act determining the taxable gift - The assessee or her legal heir is now contesting the ownership of the property. Looking at from general principles of law, the burden is on the assessee or her legal heir to prove that the ownership of the property vests with someone else, not the assessee. The entries in Revenue records, or the name of the assessee in Municipal Corporation, are not conclusive as regards the ownership of the property. The Tribunal, therefore, in our considered view, rightly observed that the assessee failed to place contra evidence on the ownership of the property. - HC
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