Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Valuation - treatment of the trade discount as additional consideration - The Tribunal noted that the transaction value should be determined based on commercial considerations, especially when the buyer and seller are not related. - The Tribunal distinguished the case from previous decisions involving oil marketing companies (OMCs) and upheld the appellant's contention that the transactions with OMCs were on a principal-to-principal basis. It was observed that there was no evidence of a service contract between the appellant and OMCs.
Valuation - treatment of the trade discount as additional consideration - The Tribunal noted that the transaction value should be determined based on commercial considerations, especially when the buyer and seller are not related. - The Tribunal distinguished the case from previous decisions involving oil marketing companies (OMCs) and upheld the appellant's contention that the transactions with OMCs were on a principal-to-principal basis. It was observed that there was no evidence of a service contract between the appellant and OMCs.
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