Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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...
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Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO alleged WIP suppressed and engineer's certificate unreliable - referred to DVO for valuation - held that AO must first express dissatisfaction with books before referring valuation - rejection of books requires specific reasons and evidence of discrepancies - addition based on estimated value without contradicting actual cost is unjustified - estimation exercise based on average gross profit rate is improper without rejecting books - AO must adhere to section 145(3) before assessment u/s 144 - valuer clarified not withdrawing certificate, not considered by AO/CIT(A) - addition based on estimated cost without discrediting actual cost is not justifiable - assessee's appeal allowed.
Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO alleged WIP suppressed and engineer's certificate unreliable - referred to DVO for valuation - held that AO must first express dissatisfaction with books before referring valuation - rejection of books requires specific reasons and evidence of discrepancies - addition based on estimated value without contradicting actual cost is unjustified - estimation exercise based on average gross profit rate is improper without rejecting books - AO must adhere to section 145(3) before assessment u/s 144 - valuer clarified not withdrawing certificate, not considered by AO/CIT(A) - addition based on estimated cost without discrediting actual cost is not justifiable - assessee's appeal allowed.
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