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 revenue authorities were aware of the amalgamation of AOK In-house Factoring Services Private Limited with 3i Infotech BPO Limited. The assessing officer passed the assessment order against the non-existent company, which had been delisted and amalgamated with the assessee company. An assessment order passed in the name of a non-existent entity is a nullity and has no legal consequence. Following the judgment in Spice Entertainment Ltd [2011 (8) TMI 544 - Delhi High Court], the assessment order is liable to be quashed. The assessee's appeal is allowed, and the Appellate Tribunal quashed the assessment order as it was passed against a non-existent entity.
The revenue authorities were aware of the amalgamation of AOK In-house Factoring Services Private Limited with 3i Infotech BPO Limited. The assessing officer passed the assessment order against the non-existent company, which had been delisted and amalgamated with the assessee company. An assessment order passed in the name of a non-existent entity is a nullity and has no legal consequence. Following the judgment in Spice Entertainment Ltd [2011 (8) TMI 544 - Delhi High Court], the assessment order is liable to be quashed. The assessee's appeal is allowed, and the Appellate Tribunal quashed the assessment order as it was passed against a non-existent entity.
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