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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The ITAT dismissed the revenue's appeal, holding that the fertilizer subsidy received by the assessee under the NBS policy is a capital receipt not chargeable to tax. The ITAT followed its earlier decision in the assessee's case for AY 2015-16, where it was held that the scheme's purpose was to attract investment in the industry and make fertilizers available to farmers at appropriate prices, which could only be achieved by bringing new investments. The ITAT reiterated that this is a recurring issue already adjudicated in favor of the assessee.
The ITAT dismissed the revenue's appeal, holding that the fertilizer subsidy received by the assessee under the NBS policy is a capital receipt not chargeable to tax. The ITAT followed its earlier decision in the assessee's case for AY 2015-16, where it was held that the scheme's purpose was to attract investment in the industry and make fertilizers available to farmers at appropriate prices, which could only be achieved by bringing new investments. The ITAT reiterated that this is a recurring issue already adjudicated in favor of the assessee.
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