Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Exemption u/s 11 / 10(23C) - delayed submission of Form 10B - The High court upheld the decision of the ITAT, which agreed with the CIT (Appeals) that furnishing an audit report in Form No. 10B along with the return of income is a procedural requirement. The court differentiated this case from the Supreme Court's decision in M/s. Wipro Ltd, stating that the circumstances of the present case involve Section 11 read with Section 12A(1)(b) of the Act, which is distinct from the conditions un/s 10B(8) discussed in Wipro's case.
Exemption u/s 11 / 10(23C) - delayed submission of Form 10B - The High court upheld the decision of the ITAT, which agreed with the CIT (Appeals) that furnishing an audit report in Form No. 10B along with the return of income is a procedural requirement. The court differentiated this case from the Supreme Court's decision in M/s. Wipro Ltd, stating that the circumstances of the present case involve Section 11 read with Section 12A(1)(b) of the Act, which is distinct from the conditions un/s 10B(8) discussed in Wipro's case.
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