Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting assessee's apportionment and allocating expenses on different basis challenged - Issue remanded to Assessing Officer to verify if formula adopted by assessee for apportioning interest expenses to interest income u/s 56 is consistent with previous assessment year accepted by Assessing Officer - If consistent, no addition to assessee's income - Assessing Officer directed to apportion expenses u/s 57 in line with previous year's assessment - Appeal allowed for statistical purposes.
Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting assessee's apportionment and allocating expenses on different basis challenged - Issue remanded to Assessing Officer to verify if formula adopted by assessee for apportioning interest expenses to interest income u/s 56 is consistent with previous assessment year accepted by Assessing Officer - If consistent, no addition to assessee's income - Assessing Officer directed to apportion expenses u/s 57 in line with previous year's assessment - Appeal allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
