Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
MAT computation u/s 115JB - whether the receipt on account of surrender of gift of shares is per se a capital receipt or a revenue receipt? - The tribunal ruled that the transaction involving the receipt of shares constituted a capital receipt and should not be taxed as per section 115JB. - It held that the assessing officer lacked authority to tinker with audited financial statements unless the items fell under specified provisions, as clarified by the Supreme court in Apollo Tyres Ltd v. CIT.
MAT computation u/s 115JB - whether the receipt on account of surrender of gift of shares is per se a capital receipt or a revenue receipt? - The tribunal ruled that the transaction involving the receipt of shares constituted a capital receipt and should not be taxed as per section 115JB. - It held that the assessing officer lacked authority to tinker with audited financial statements unless the items fell under specified provisions, as clarified by the Supreme court in Apollo Tyres Ltd v. CIT.
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