Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Revision u/s 263 - The Tribunal observed that for invoking the provision of section 263 of the Act, twin conditions must be satisfied: the order should be erroneous and prejudicial to the interest of Revenue. If the AO adopts one of the plausible views, no prejudice would be caused. - In this case, the redemption of units of Bajaj Alliance and the claim of it as capital gain were made, which is amenable to capital gain tax under section 45 of the Act. - Consequently, the tribunal set aside the impugned order, restoring the findings of the AO.
Revision u/s 263 - The Tribunal observed that for invoking the provision of section 263 of the Act, twin conditions must be satisfied: the order should be erroneous and prejudicial to the interest of Revenue. If the AO adopts one of the plausible views, no prejudice would be caused. - In this case, the redemption of units of Bajaj Alliance and the claim of it as capital gain were made, which is amenable to capital gain tax under section 45 of the Act. - Consequently, the tribunal set aside the impugned order, restoring the findings of the AO.
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