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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
Validity of the final assessment order due to non-implementation of the directions of learned DRP - Royalty/FTS receipts - The ITAT underscored the legal requirement u/s 144C(13) of the Income-tax Act, which obligates the AO to strictly adhere to the DRP's directions. Citing key judicial precedents, including the Bechtel Limited and ESPN Star Sports cases, the ITAT concluded that the AO's failure to implement the DRP's binding directions resulted in the final assessment order being declared void ab initio and without jurisdiction. Consequently, the Tribunal quashed the assessment order, thereby partly allowing the appeal in favor of the assessee.
Validity of the final assessment order due to non-implementation of the directions of learned DRP - Royalty/FTS receipts - The ITAT underscored the legal requirement u/s 144C(13) of the Income-tax Act, which obligates the AO to strictly adhere to the DRP's directions. Citing key judicial precedents, including the Bechtel Limited and ESPN Star Sports cases, the ITAT concluded that the AO's failure to implement the DRP's binding directions resulted in the final assessment order being declared void ab initio and without jurisdiction. Consequently, the Tribunal quashed the assessment order, thereby partly allowing the appeal in favor of the assessee.
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