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...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Release of the Amount Seized along with interest u/s 132B(4) read with Rule 119A - Scope of the term 'shall release' - The High court held that the petitioner is entitled to interest if the assessing authority, upon examination, finds that the seized amount was duly explained and not required for satisfying any existing or likely tax demand. - The court interpreted the statutory provisions as directory, not mandatory, stating that the assessing authority's failure to decide within 120 days does not automatically entitle the petitioner to the release of the seized amount. - The writ petition was disposed of without granting the writ of Mandamus as prayed for by the petitioner. Instead, the court directed the Assessing Authority to decide on the petitioner's application within two weeks, ensuring a reasoned and speaking order after hearing the petitioner.
Release of the Amount Seized along with interest u/s 132B(4) read with Rule 119A - Scope of the term 'shall release' - The High court held that the petitioner is entitled to interest if the assessing authority, upon examination, finds that the seized amount was duly explained and not required for satisfying any existing or likely tax demand. - The court interpreted the statutory provisions as directory, not mandatory, stating that the assessing authority's failure to decide within 120 days does not automatically entitle the petitioner to the release of the seized amount. - The writ petition was disposed of without granting the writ of Mandamus as prayed for by the petitioner. Instead, the court directed the Assessing Authority to decide on the petitioner's application within two weeks, ensuring a reasoned and speaking order after hearing the petitioner.
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