Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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The ITAT accepted the assessee's explanation regarding the WhatsApp chat and held that the provisions of section 69A cannot be invoked for the addition of Rs. 30 lakhs, as the assessee had not received this amount from Omaxe Limited or any other party. The credit of TDS of Rs. 30 lakhs was duly given to the assessee by the income tax department after Omaxe Limited deposited the same. Consequently, the addition of Rs. 30 lakhs made by the AO was deleted.
The ITAT accepted the assessee's explanation regarding the WhatsApp chat and held that the provisions of section 69A cannot be invoked for the addition of Rs. 30 lakhs, as the assessee had not received this amount from Omaxe Limited or any other party. The credit of TDS of Rs. 30 lakhs was duly given to the assessee by the income tax department after Omaxe Limited deposited the same. Consequently, the addition of Rs. 30 lakhs made by the AO was deleted.
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