Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Regarding the disallowance of late deposit of ESI/PF u/s 36(1)(va), following the Supreme Court's ratio in Checkmate Services, the ITAT allowed the Revenue's ground and upheld the Assessing Officer's addition. Concerning the disallowance on account of sundry creditors, the assessee had written off the credit balances during the subsequent year, and reversing the addition would amount to double taxation; hence, the ITAT dismissed the Revenue's ground. Pertaining to the disallowance of depreciation at 25% on the opening WDV of intellectual property rights, the ITAT held that the merger effectively took place in FY 2013-14, and the assets, including the patented technology's value accepted by the High Court, merged with the assessee company. The Assessing Officer erred by passing the assessment order on a standalone basis despite knowledge of the amalgamation. The tax authorities are bound to consider the assessee's state of affairs as on 01/04/2013, and the return filed reflecting the consolidated balance sheet should have been accepted. The value of the patent technology was accepted by the High Court and the Assessing Officer in the scrutiny proceedings for AY 2014-15. Therefore, the CIT.
Regarding the disallowance of late deposit of ESI/PF u/s 36(1)(va), following the Supreme Court's ratio in Checkmate Services, the ITAT allowed the Revenue's ground and upheld the Assessing Officer's addition. Concerning the disallowance on account of sundry creditors, the assessee had written off the credit balances during the subsequent year, and reversing the addition would amount to double taxation; hence, the ITAT dismissed the Revenue's ground. Pertaining to the disallowance of depreciation at 25% on the opening WDV of intellectual property rights, the ITAT held that the merger effectively took place in FY 2013-14, and the assets, including the patented technology's value accepted by the High Court, merged with the assessee company. The Assessing Officer erred by passing the assessment order on a standalone basis despite knowledge of the amalgamation. The tax authorities are bound to consider the assessee's state of affairs as on 01/04/2013, and the return filed reflecting the consolidated balance sheet should have been accepted. The value of the patent technology was accepted by the High Court and the Assessing Officer in the scrutiny proceedings for AY 2014-15. Therefore, the CIT.
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