Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Assessment u/s 153A was quashed due to improper approval granted u/s 153D by JCIT through a common mechanical communication without application of mind. Addition u/s 10(38) was deleted as opportunity for cross-examination of witness whose statement was relied upon was not provided, violating principles of natural justice as per Supreme Court's decision in Andaman Timber Industries case. Commission addition at 0.2% was also deleted. Disallowance of business promotion expenses for non-production of bills/vouchers was deleted following Delhi High Court's decision in R.G. Buildwell Engineers Ltd. case, approved by Supreme Court, holding that disallowance cannot be made without rejecting books of account.
Assessment u/s 153A was quashed due to improper approval granted u/s 153D by JCIT through a common mechanical communication without application of mind. Addition u/s 10(38) was deleted as opportunity for cross-examination of witness whose statement was relied upon was not provided, violating principles of natural justice as per Supreme Court's decision in Andaman Timber Industries case. Commission addition at 0.2% was also deleted. Disallowance of business promotion expenses for non-production of bills/vouchers was deleted following Delhi High Court's decision in R.G. Buildwell Engineers Ltd. case, approved by Supreme Court, holding that disallowance cannot be made without rejecting books of account.
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