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 Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as the deceased had not utilized sale proceeds for new property within the specified time. Section 159 requires compliance when an assessee dies during proceedings. Citing Dalumal Shyamumal case, the Tribunal declared the assessment order a nullity and directed a proper assessment. The order in the present case was deemed defective and null, criticizing the legal heirs for non-disclosure. The matter was remanded to CIT(A) for fresh consideration with legal heirs' involvement. Legal heirs must be given a chance to be heard. Appeal allowed for statistical purposes.
The ITAT Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as the deceased had not utilized sale proceeds for new property within the specified time. Section 159 requires compliance when an assessee dies during proceedings. Citing Dalumal Shyamumal case, the Tribunal declared the assessment order a nullity and directed a proper assessment. The order in the present case was deemed defective and null, criticizing the legal heirs for non-disclosure. The matter was remanded to CIT(A) for fresh consideration with legal heirs' involvement. Legal heirs must be given a chance to be heard. Appeal allowed for statistical purposes.
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