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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Key issues: 1) The treatment of long-term capital gain on inherited/gifted jewelry as short-term capital gain, where the assessee's claim of the jewelry being 30-40 years old was accepted based on valuation report, wife's statement, and jeweler's statement, allowing benefit u/s 54. 2) The disallowance of exemption u/s 54 for 50% share of the wife in the new house property was incorrect, as the entire investment was made by the assessee, and the full value was reflected in Form 26AS. 3) Based on the above findings, the assessee's appeal was allowed by the Appellate Tribunal.
Key issues: 1) The treatment of long-term capital gain on inherited/gifted jewelry as short-term capital gain, where the assessee's claim of the jewelry being 30-40 years old was accepted based on valuation report, wife's statement, and jeweler's statement, allowing benefit u/s 54. 2) The disallowance of exemption u/s 54 for 50% share of the wife in the new house property was incorrect, as the entire investment was made by the assessee, and the full value was reflected in Form 26AS. 3) Based on the above findings, the assessee's appeal was allowed by the Appellate Tribunal.
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