Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Validity of Income Tax Settlement order - additions made with respect to the infusion of share capital and the denial of benefit of deductions u/s 80IC - second round of litigation - The Court found substantial merit in the assessee's submissions regarding the infusion of share capital. The Court concluded that the addition of INR 11.26 crores by the ITSC was unsubstantiated, especially in light of evidence suggesting the funds' availability for such investment by the implicated company in the relevant assessment years. - The High Court observed a pivotal mistake in the ITSC's handling of share capital issues, particularly failing to account for the Department's contradictory stances and the non-application of Section 115BBE of the Act, which pertains to tax on income with unexplained credit.
Validity of Income Tax Settlement order - additions made with respect to the infusion of share capital and the denial of benefit of deductions u/s 80IC - second round of litigation - The Court found substantial merit in the assessee's submissions regarding the infusion of share capital. The Court concluded that the addition of INR 11.26 crores by the ITSC was unsubstantiated, especially in light of evidence suggesting the funds' availability for such investment by the implicated company in the relevant assessment years. - The High Court observed a pivotal mistake in the ITSC's handling of share capital issues, particularly failing to account for the Department's contradictory stances and the non-application of Section 115BBE of the Act, which pertains to tax on income with unexplained credit.
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