Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
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The High Court quashed the assessment order passed u/s 147 read with Sections 144 and 144B, as well as the consequential notices u/ss 156 and 274 read with 271AA(1) of the Income Tax Act. The court held that the petitioner had complied with the requirements of the Income Declaration Scheme, 2016 (IDS) by making a declaration and depositing the appropriate tax amount. Consequently, the petitioner was entitled to the benefits under the IDS. The court directed the respondents to issue an appropriate certificate of tax deposit under the IDS to the petitioner within four weeks.
The High Court quashed the assessment order passed u/s 147 read with Sections 144 and 144B, as well as the consequential notices u/ss 156 and 274 read with 271AA(1) of the Income Tax Act. The court held that the petitioner had complied with the requirements of the Income Declaration Scheme, 2016 (IDS) by making a declaration and depositing the appropriate tax amount. Consequently, the petitioner was entitled to the benefits under the IDS. The court directed the respondents to issue an appropriate certificate of tax deposit under the IDS to the petitioner within four weeks.
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