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 Appellate Tribunal set aside the order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] dismissing the assessee's appeal without admitting it for adjudication on merits. The CIT(A) had rejected the appeal on the ground that the assessee had not satisfied the condition of payment of advance tax as specified u/s 249(4)(b) of the Income Tax Act. The assessee contended that due to a heart problem and hospitalization for angioplasty, they could not appear on the dates provided by the Assessing Officer. Considering the decisions in similar cases and the totality of facts, the Tribunal directed the CIT(A) to admit the assessee's appeal for adjudication on merits after providing a reasonable opportunity of hearing. The appeal was partly allowed for statistical purposes.
The Appellate Tribunal set aside the order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] dismissing the assessee's appeal without admitting it for adjudication on merits. The CIT(A) had rejected the appeal on the ground that the assessee had not satisfied the condition of payment of advance tax as specified u/s 249(4)(b) of the Income Tax Act. The assessee contended that due to a heart problem and hospitalization for angioplasty, they could not appear on the dates provided by the Assessing Officer. Considering the decisions in similar cases and the totality of facts, the Tribunal directed the CIT(A) to admit the assessee's appeal for adjudication on merits after providing a reasonable opportunity of hearing. The appeal was partly allowed for statistical purposes.
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