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...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Validity of assessment order - as argued without giving the petitioner an opportunity to reply by granting adjournment, the second respondent has now passed the assessment order by adding a further sum towards addition u/s 68 - The High Court, after careful consideration, agreed with the petitioner's contentions. It found that the order lacked procedural fairness and that the additions to the taxable income were not justified. As a result, the impugned order was quashed, and the case was remitted back to the first respondent for fresh assessment within 90 days.
Validity of assessment order - as argued without giving the petitioner an opportunity to reply by granting adjournment, the second respondent has now passed the assessment order by adding a further sum towards addition u/s 68 - The High Court, after careful consideration, agreed with the petitioner's contentions. It found that the order lacked procedural fairness and that the additions to the taxable income were not justified. As a result, the impugned order was quashed, and the case was remitted back to the first respondent for fresh assessment within 90 days.
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