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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Ex-parte appellate order passed by CIT(A) based on statement of fact filed by assessee. Second round of litigation regarding whether assessee firm stood dissolved or business discontinued. Disallowance of freight expenses u/s 40(a)(ia). Assessee did not participate in appellate proceedings before CIT(A) for reasons cited in statement of fact. Huge additions made by AO and huge tax demand raised against assessee in second round. Assessee acted negligently during appellate proceedings before CIT(A) but should not be allowed to benefit from its own wrong. CIT(A) passed ex-parte order based on record including statement of fact. Assessee did not comply with CIT(A)'s notices. Act of court should not prejudice anybody. Mandate of 1961 Act is to compute and collect correct taxes. Assessee now arguing against additions before ITAT, filing paper book. Contradictory statements regarding dissolution of firm versus discontinuance of business. Inquiries to be conducted in interest of justice. Appellate order set aside, matter remanded to CIT(A) for fresh adjudication after giving opportunity to both parties u/ss 189(1), 189(3), 189(4) read with Section 176(3).
Ex-parte appellate order passed by CIT(A) based on statement of fact filed by assessee. Second round of litigation regarding whether assessee firm stood dissolved or business discontinued. Disallowance of freight expenses u/s 40(a)(ia). Assessee did not participate in appellate proceedings before CIT(A) for reasons cited in statement of fact. Huge additions made by AO and huge tax demand raised against assessee in second round. Assessee acted negligently during appellate proceedings before CIT(A) but should not be allowed to benefit from its own wrong. CIT(A) passed ex-parte order based on record including statement of fact. Assessee did not comply with CIT(A)'s notices. Act of court should not prejudice anybody. Mandate of 1961 Act is to compute and collect correct taxes. Assessee now arguing against additions before ITAT, filing paper book. Contradictory statements regarding dissolution of firm versus discontinuance of business. Inquiries to be conducted in interest of justice. Appellate order set aside, matter remanded to CIT(A) for fresh adjudication after giving opportunity to both parties u/ss 189(1), 189(3), 189(4) read with Section 176(3).
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