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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Charitable trust was denied exemption u/ss 11 and 12 due to disallowance of salary/honorarium paid to trustees u/s 13(1)(c) read with Section 13(3) and 164(2), invoking Section 40A(2)(b) as unreasonable payment. Assessee claimed trustees were qualified and remuneration was commensurate with services rendered. ITAT held that Assessing Officer admitted trustees' qualifications and failed to substantiate excessive remuneration by producing comparable cases. Remuneration was accepted in earlier years. Facts remained unchanged. Department failed to distinguish observations from earlier favorable orders. ITAT dismissed department's appeals, upholding allowability of trustees' remuneration for exemption.
Charitable trust was denied exemption u/ss 11 and 12 due to disallowance of salary/honorarium paid to trustees u/s 13(1)(c) read with Section 13(3) and 164(2), invoking Section 40A(2)(b) as unreasonable payment. Assessee claimed trustees were qualified and remuneration was commensurate with services rendered. ITAT held that Assessing Officer admitted trustees' qualifications and failed to substantiate excessive remuneration by producing comparable cases. Remuneration was accepted in earlier years. Facts remained unchanged. Department failed to distinguish observations from earlier favorable orders. ITAT dismissed department's appeals, upholding allowability of trustees' remuneration for exemption.
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