Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
AO disallowed professional fees paid to doctors citing lack of evidence regarding their role as consultants, researchers or advisors. CIT(A) deleted disallowance noting assessee provided logbook, agreements, summary sheets, brochures, manuals and research papers. Tribunal upheld CIT(A)'s order. Regarding disallowance u/s 14A for investments, assessee had sufficient funds as evident from bank statement showing share capital proceeds and mutual fund investments. Tribunal upheld CIT(A)'s deletion of disallowance. For administrative expenses disallowed u/s 14A read with Rule 8D, Tribunal opined AO and CIT(A) failed to record dissatisfaction before applying Rule 8D's third component relating to administrative expenses.
AO disallowed professional fees paid to doctors citing lack of evidence regarding their role as consultants, researchers or advisors. CIT(A) deleted disallowance noting assessee provided logbook, agreements, summary sheets, brochures, manuals and research papers. Tribunal upheld CIT(A)'s order. Regarding disallowance u/s 14A for investments, assessee had sufficient funds as evident from bank statement showing share capital proceeds and mutual fund investments. Tribunal upheld CIT(A)'s deletion of disallowance. For administrative expenses disallowed u/s 14A read with Rule 8D, Tribunal opined AO and CIT(A) failed to record dissatisfaction before applying Rule 8D's third component relating to administrative expenses.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
