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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Reopening of assessment beyond the period of limitation was challenged, but the notice u/s 148 was issued within the six-year time limit on 28.03.2018 and served on 02.04.2018, complying with Section 149's requirement for issuing the notice. The legality of the assessment order was questioned due to the dismissal of the financial creditor's petition under the Insolvency & Bankruptcy Code, 2016, but the Assessing Officer had no information about the NCLT order at the time of passing the reassessment order. The addition based on audited financial statements submitted to Punjab National Bank was remitted to the Assessing Officer for de novo consideration and fresh decision, with the assessee directed to file necessary documents for proper adjudication. The appeal was partly allowed for statistical purposes.
Reopening of assessment beyond the period of limitation was challenged, but the notice u/s 148 was issued within the six-year time limit on 28.03.2018 and served on 02.04.2018, complying with Section 149's requirement for issuing the notice. The legality of the assessment order was questioned due to the dismissal of the financial creditor's petition under the Insolvency & Bankruptcy Code, 2016, but the Assessing Officer had no information about the NCLT order at the time of passing the reassessment order. The addition based on audited financial statements submitted to Punjab National Bank was remitted to the Assessing Officer for de novo consideration and fresh decision, with the assessee directed to file necessary documents for proper adjudication. The appeal was partly allowed for statistical purposes.
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