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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The impugned order cannot compel the claimant/petitioner to sign financial statements amid disputes over accounts' veracity before adjudication of the main arbitral proceeding. The order lacks jurisdiction, misreads Income Tax Act provisions on penalties for inaccurate statements, and violates constitutional principles against self-incrimination. The accounting standards are not binding on Income Tax Authorities. An Arbitral Tribunal's interlocutory order in a private dispute cannot bind Income Tax Authorities governed by statutory provisions. Implementing the order may render arbitral proceedings infructuous by filing disputed accounts with claimant's signature. Though not aiding the main relief, the order has the effect of granting final relief prematurely. The petition is allowed.
The impugned order cannot compel the claimant/petitioner to sign financial statements amid disputes over accounts' veracity before adjudication of the main arbitral proceeding. The order lacks jurisdiction, misreads Income Tax Act provisions on penalties for inaccurate statements, and violates constitutional principles against self-incrimination. The accounting standards are not binding on Income Tax Authorities. An Arbitral Tribunal's interlocutory order in a private dispute cannot bind Income Tax Authorities governed by statutory provisions. Implementing the order may render arbitral proceedings infructuous by filing disputed accounts with claimant's signature. Though not aiding the main relief, the order has the effect of granting final relief prematurely. The petition is allowed.
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