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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Allowance of Tax Deducted at Source (TDS) claimed by a "Kaccha Aaratiya" (commission agent) engaged in selling agricultural produce on behalf of farmers. The key points are: The assessee, a Kaccha Aaratiya, is entitled to claim TDS credit u/ss 194A (interest income) and 194H (commission income) as the entire income on which TDS was deducted is duly offered for taxation. The disallowance of TDS amounting to Rs. 179,551 is unjustified. Regarding TDS u/s 194Q (purchase of goods), the assessee is eligible to claim credit as they merely facilitate the sale between farmers and principal buyers, earning only commission. The invoices and sale documents establish that the assessee has no control or margin in the sale and earns only commission. As per CBDT Circular 452 (1986), for Kaccha Arahitias, turnover excludes sales on behalf of principals, and only commission income is considered for tax purposes u/s 44AB. TDS deducted u/s 194Q by principal buyers cannot be denied by invoking Rule 37BA read with Section 199, as the sales facilitated are not the assessee's turnover, and the commission income is.
Allowance of Tax Deducted at Source (TDS) claimed by a "Kaccha Aaratiya" (commission agent) engaged in selling agricultural produce on behalf of farmers. The key points are: The assessee, a Kaccha Aaratiya, is entitled to claim TDS credit u/ss 194A (interest income) and 194H (commission income) as the entire income on which TDS was deducted is duly offered for taxation. The disallowance of TDS amounting to Rs. 179,551 is unjustified. Regarding TDS u/s 194Q (purchase of goods), the assessee is eligible to claim credit as they merely facilitate the sale between farmers and principal buyers, earning only commission. The invoices and sale documents establish that the assessee has no control or margin in the sale and earns only commission. As per CBDT Circular 452 (1986), for Kaccha Arahitias, turnover excludes sales on behalf of principals, and only commission income is considered for tax purposes u/s 44AB. TDS deducted u/s 194Q by principal buyers cannot be denied by invoking Rule 37BA read with Section 199, as the sales facilitated are not the assessee's turnover, and the commission income is.
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