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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The assessee invested its own funds, provided bank guarantees, engaged skilled staff and laborers, brought necessary machinery, adhered to timelines, bore consequences for delays, and complied with quality standards for infrastructure projects undertaken on a sub-contract basis from private parties. The AO failed to examine the terms and CBDT circular clarifying the scope of "developing" infrastructure facilities. The Bombay High Court's decision in CIT vs. ABG Heavy Industries Ltd. favored the assessee's eligibility for deduction u/s 80IA(4). Considering the totality of facts, the matter was restored to the AO to re-examine whether the assessee qualifies as a developer or works contractor for each project, in light of the High Court ruling, CBDT circular, and project terms.
The assessee invested its own funds, provided bank guarantees, engaged skilled staff and laborers, brought necessary machinery, adhered to timelines, bore consequences for delays, and complied with quality standards for infrastructure projects undertaken on a sub-contract basis from private parties. The AO failed to examine the terms and CBDT circular clarifying the scope of "developing" infrastructure facilities. The Bombay High Court's decision in CIT vs. ABG Heavy Industries Ltd. favored the assessee's eligibility for deduction u/s 80IA(4). Considering the totality of facts, the matter was restored to the AO to re-examine whether the assessee qualifies as a developer or works contractor for each project, in light of the High Court ruling, CBDT circular, and project terms.
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