Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
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Assignment of contractual receipt by JV to one partner for project execution is not incurrence of expenditure. JV not required to make total payment of actual contract receipt to partner. AO incorrectly interpreted contract assignment as expenditure for availing partner's services. Contract cost cannot be construed as expenditure, it's project execution cost. AO cannot assume partner could have executed work at less cost in open market. No profit element for JV in contract assignment to partner. CIT(A) order in AY 2011-12 accepted by Revenue, hence a covered issue in assessee's favor. Assessee's minimum expenses for existence allowed, losses allowed to be carried forward. Appeals allowed.
Assignment of contractual receipt by JV to one partner for project execution is not incurrence of expenditure. JV not required to make total payment of actual contract receipt to partner. AO incorrectly interpreted contract assignment as expenditure for availing partner's services. Contract cost cannot be construed as expenditure, it's project execution cost. AO cannot assume partner could have executed work at less cost in open market. No profit element for JV in contract assignment to partner. CIT(A) order in AY 2011-12 accepted by Revenue, hence a covered issue in assessee's favor. Assessee's minimum expenses for existence allowed, losses allowed to be carried forward. Appeals allowed.
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