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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TDS u/s 195 - disallowance u/s 40(a)(i) - The Tribunal cited precedents and legal provisions to establish that disallowance under Section 40(a)(i) can only be made when tax is deductible at source under Chapter XVII-B and has not been deducted or paid within the specified time. Considering that TDS had been deducted under Section 192 and deposited within the prescribed time, the Tribunal found no justification for disallowing expenses under Section 40(a)(i). - The Tribunal also referred to the decision in M/s Serco India Pvt. Ltd., where it was held that once tax is deducted under Section 192 for salary payments, Section 195 has no application.
TDS u/s 195 - disallowance u/s 40(a)(i) - The Tribunal cited precedents and legal provisions to establish that disallowance under Section 40(a)(i) can only be made when tax is deductible at source under Chapter XVII-B and has not been deducted or paid within the specified time. Considering that TDS had been deducted under Section 192 and deposited within the prescribed time, the Tribunal found no justification for disallowing expenses under Section 40(a)(i). - The Tribunal also referred to the decision in M/s Serco India Pvt. Ltd., where it was held that once tax is deducted under Section 192 for salary payments, Section 195 has no application.
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