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 High Court dismissed the writ petition filed against the order of assessment passed u/s 153A, making additions u/s 69A of the Income Tax Act. The Court held that the availability of an alternative statutory remedy of appeal u/s 246A is not a bar to exercise jurisdiction under Article 226 of the Constitution, subject to certain limitations. However, the petitioner failed to demonstrate any exceptional situation warranting interference under Article 226. The Court found that the Assessing Officer's action of bringing unexplained receipts to tax cannot be construed as without jurisdiction or violating principles of natural justice. The petitioner did not substantiate the claims of fraud by ex-employees and failed to provide information sought regarding unsecured hand loans. The Court granted liberty to the petitioner to approach the appellate authority u/s 246A.
The High Court dismissed the writ petition filed against the order of assessment passed u/s 153A, making additions u/s 69A of the Income Tax Act. The Court held that the availability of an alternative statutory remedy of appeal u/s 246A is not a bar to exercise jurisdiction under Article 226 of the Constitution, subject to certain limitations. However, the petitioner failed to demonstrate any exceptional situation warranting interference under Article 226. The Court found that the Assessing Officer's action of bringing unexplained receipts to tax cannot be construed as without jurisdiction or violating principles of natural justice. The petitioner did not substantiate the claims of fraud by ex-employees and failed to provide information sought regarding unsecured hand loans. The Court granted liberty to the petitioner to approach the appellate authority u/s 246A.
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