Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
The assessee disputed the stamp duty value of land purchased, leading to the matter being referred to the District Valuation Officer (DVO). The DVO's valuation, based on comparable cases not objected by the assessee, was adopted as the assessee had not provided any other registered valuer's report. The CIT(A) upheld the addition u/s 56(2)(vii)(b)(ii) for the difference between purchase price and DVO's valuation, as the assessee failed to controvert the findings. The ITAT found no merit in the assessee's grounds and upheld the CIT(A)'s order, deciding against the assessee and confirming the addition u/s 56(2)(vii)(b)(ii).
The assessee disputed the stamp duty value of land purchased, leading to the matter being referred to the District Valuation Officer (DVO). The DVO's valuation, based on comparable cases not objected by the assessee, was adopted as the assessee had not provided any other registered valuer's report. The CIT(A) upheld the addition u/s 56(2)(vii)(b)(ii) for the difference between purchase price and DVO's valuation, as the assessee failed to controvert the findings. The ITAT found no merit in the assessee's grounds and upheld the CIT(A)'s order, deciding against the assessee and confirming the addition u/s 56(2)(vii)(b)(ii).
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