Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
Levy of penalty u/s 271B - failure to get accounts audited as per the provisions of section 44AB - From the perusal of the profit and loss account we further find that the assessee incurred a net loss during the year under consideration, which in the absence of filing the return of income within the due date cannot be carried forward and set off. Thus, the non-filing of the return of income and audited accounts cannot in any way be said to be beneficial to the assessee. - No penalty - AT
Levy of penalty u/s 271B - failure to get accounts audited as per the provisions of section 44AB - From the perusal of the profit and loss account we further find that the assessee incurred a net loss during the year under consideration, which in the absence of filing the return of income within the due date cannot be carried forward and set off. Thus, the non-filing of the return of income and audited accounts cannot in any way be said to be beneficial to the assessee. - No penalty - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
