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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Reopening of assessment u/s 147 - Addition u/s 14A read with Rule 8D. "Reason to believe" in Section 147 means cause or justification for the competent authority to reopen assessment after four years with prior approval of jurisdictional Commissioner u/s 151, if income escaped assessment or mistake in assessment. Rule 8D, effective from 24.3.2008, prescribes methodology for determining expenditure disallowance u/s 14A for earning exempt income, applicable from AY 2007-08 onwards. Assessee obligated to provide full material disclosures. Nexus between disallowed expenditure and exempt income required. Interest on loans for investment in new company not exempt u/s 14A read with Rule 8D. Reopening valid if assessment not per law, not change of opinion. No error of law or jurisdiction by AO. Writ petitions dismissed. Statutory appeal remedy available, condonation of delay for writ petition period.
Reopening of assessment u/s 147 - Addition u/s 14A read with Rule 8D. "Reason to believe" in Section 147 means cause or justification for the competent authority to reopen assessment after four years with prior approval of jurisdictional Commissioner u/s 151, if income escaped assessment or mistake in assessment. Rule 8D, effective from 24.3.2008, prescribes methodology for determining expenditure disallowance u/s 14A for earning exempt income, applicable from AY 2007-08 onwards. Assessee obligated to provide full material disclosures. Nexus between disallowed expenditure and exempt income required. Interest on loans for investment in new company not exempt u/s 14A read with Rule 8D. Reopening valid if assessment not per law, not change of opinion. No error of law or jurisdiction by AO. Writ petitions dismissed. Statutory appeal remedy available, condonation of delay for writ petition period.
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