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 Appellate Tribunal considered the imposition of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1). The assessee eventually responded to the notice and provided the required documents, with a valid reason for the delay. The Assessing Officer accepted the income return after examining the documents. The Tribunal found a reasonable cause for the initial failure to respond and decided to delete the penalty u/s 272A(1)(d). Consequently, the assessee's appeal was allowed.
The Appellate Tribunal considered the imposition of penalty u/s 272A(1)(d) for non-compliance with a notice u/s 142(1). The assessee eventually responded to the notice and provided the required documents, with a valid reason for the delay. The Assessing Officer accepted the income return after examining the documents. The Tribunal found a reasonable cause for the initial failure to respond and decided to delete the penalty u/s 272A(1)(d). Consequently, the assessee's appeal was allowed.
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