Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Disallowance u/s 80IB - additional income earned by means of ‘on-money’ - The ITAT found that the project "Rushikesh" fulfilled all conditions for the deduction under section 80IB for the relevant AYs. The Tribunal noted that the additional income disclosed during the search was based on actual profit and loss accounts and should be considered for deduction under section 80IB. The Tribunal upheld the CIT(A)'s decision to delete the addition.
Disallowance u/s 80IB - additional income earned by means of ‘on-money’ - The ITAT found that the project "Rushikesh" fulfilled all conditions for the deduction under section 80IB for the relevant AYs. The Tribunal noted that the additional income disclosed during the search was based on actual profit and loss accounts and should be considered for deduction under section 80IB. The Tribunal upheld the CIT(A)'s decision to delete the addition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
