International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Rectification of mistake u/s 154 - Though there is a remedy to revise the return but if the assessee could not revised its return of income within the period prescribed, it does not mean that there is no remedy for such a mistake leading to incorrect assessment. Even otherwise, if assessee has offered an income to tax by mistake or due to technical mal functioning of computer system, the appellate authority has the jurisdiction to rectify such mistake and particularly to avoid the assessment of the income which is not the real income of the assessee. - AT
Rectification of mistake u/s 154 - Though there is a remedy to revise the return but if the assessee could not revised its return of income within the period prescribed, it does not mean that there is no remedy for such a mistake leading to incorrect assessment. Even otherwise, if assessee has offered an income to tax by mistake or due to technical mal functioning of computer system, the appellate authority has the jurisdiction to rectify such mistake and particularly to avoid the assessment of the income which is not the real income of the assessee. - AT
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