Customs Broker association membership becomes mandatory in the operating jurisdiction, with exclusive membership and limited compliance-time relaxatio...
Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
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The ITAT held that the assessee bank was eligible for deduction u/s 36(1)(viia) for its rural branches. The Assessing Officer had erroneously rejected the rural branch status for five branches based on district-wise data from the 2011 Census. However, the assessee appropriately relied on the final village-wise data from the 2001 Census to claim the deduction, as the 2011 Census lacked village-level population figures. The ITAT found no error in the impugned appellate order allowing the deduction and dismissed the revenue's appeal.
The ITAT held that the assessee bank was eligible for deduction u/s 36(1)(viia) for its rural branches. The Assessing Officer had erroneously rejected the rural branch status for five branches based on district-wise data from the 2011 Census. However, the assessee appropriately relied on the final village-wise data from the 2001 Census to claim the deduction, as the 2011 Census lacked village-level population figures. The ITAT found no error in the impugned appellate order allowing the deduction and dismissed the revenue's appeal.
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