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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Addition u/s 68 - ITAT deleted the addition - the assessee was bound to co-operate in the assessment proceedings. In spite of several notices the assessee did not even care to reply to the said notices nor respond to the notices. Therefore, we are required to examine the correctness of the order passed by the Tribunal on merits. It will be rewarding a person who does not require such an indulgence - Tribunal fell in error by stating that the facts are not in dispute. Then the enquiry could not be completed by the AO on account of supine interference on the part of the assessee in not co-operating with the assessment proceedings. Therefore, we are of the clear view that the matter has to be remanded back to the AO for fresh consideration. Revenue appeal is allowed. - HC
Addition u/s 68 - ITAT deleted the addition - the assessee was bound to co-operate in the assessment proceedings. In spite of several notices the assessee did not even care to reply to the said notices nor respond to the notices. Therefore, we are required to examine the correctness of the order passed by the Tribunal on merits. It will be rewarding a person who does not require such an indulgence - Tribunal fell in error by stating that the facts are not in dispute. Then the enquiry could not be completed by the AO on account of supine interference on the part of the assessee in not co-operating with the assessment proceedings. Therefore, we are of the clear view that the matter has to be remanded back to the AO for fresh consideration. Revenue appeal is allowed. - HC
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