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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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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