Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Section 154 rectification order reversing previous order on allowance of depreciation on non-compete fee cannot be invoked when the issue is debatable. Primary issue pending consideration before Supreme Court. Jurisdictional High Court admitted whether Section 154 powers can be exercised when the issue is debatable in assessee's own case for earlier assessment year. Considering High Court admission of identical question in assessee's case, for judicial discipline and propriety, impugned order set aside, issue restored to CIT(Appeals) to decide after outcome of assessee's own case for AY 2012-13 and pass order accordingly. Appeal allowed for statistical purposes.
Section 154 rectification order reversing previous order on allowance of depreciation on non-compete fee cannot be invoked when the issue is debatable. Primary issue pending consideration before Supreme Court. Jurisdictional High Court admitted whether Section 154 powers can be exercised when the issue is debatable in assessee's own case for earlier assessment year. Considering High Court admission of identical question in assessee's case, for judicial discipline and propriety, impugned order set aside, issue restored to CIT(Appeals) to decide after outcome of assessee's own case for AY 2012-13 and pass order accordingly. Appeal allowed for statistical purposes.
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