Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Disallowance of export commission paid by the assessee - allowable business expenses or not? - Despite the substantial increase in commission compared to the preceding year, there was no allegation of the commission being paid to a related party or being bogus. The ITAT recognized the challenging market situation in the export industry, which warranted higher commission payments due to extra efforts by commission agents. The Tribunal found that the expenditure was incurred wholly and exclusively for business purposes, with no contradictory evidence on record. - As a result, the ITAT allowed the appeal by the assessee
Disallowance of export commission paid by the assessee - allowable business expenses or not? - Despite the substantial increase in commission compared to the preceding year, there was no allegation of the commission being paid to a related party or being bogus. The ITAT recognized the challenging market situation in the export industry, which warranted higher commission payments due to extra efforts by commission agents. The Tribunal found that the expenditure was incurred wholly and exclusively for business purposes, with no contradictory evidence on record. - As a result, the ITAT allowed the appeal by the assessee
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