Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Capital gain - STCG - compensation on the compulsory acquisition of capital assets - The ITAT noted a defect in the order of the CIT(A) as it did not provide the benefit of deduction for the written down value of Rs. 7,67,802/- and also did not give the benefit of acquisition of land with indexation cost. Upon recalculating the capital gain, the Court found that the tax liability of the assessee would reduce significantly. - Assessing Officer directed to delete the addition made.
Capital gain - STCG - compensation on the compulsory acquisition of capital assets - The ITAT noted a defect in the order of the CIT(A) as it did not provide the benefit of deduction for the written down value of Rs. 7,67,802/- and also did not give the benefit of acquisition of land with indexation cost. Upon recalculating the capital gain, the Court found that the tax liability of the assessee would reduce significantly. - Assessing Officer directed to delete the addition made.
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