Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in spouse's name, disallowing deduction. Further investment claimed for LTCG was disallowed as AO did not consider additional payment for property improvement. Assessee provided evidence of payment to builder, but AO did not have these documents. The case is remanded to AO to allow assessee to substantiate the claim. The appeal is partly allowed for statistical purposes.
The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in spouse's name, disallowing deduction. Further investment claimed for LTCG was disallowed as AO did not consider additional payment for property improvement. Assessee provided evidence of payment to builder, but AO did not have these documents. The case is remanded to AO to allow assessee to substantiate the claim. The appeal is partly allowed for statistical purposes.
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