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 held: Long term capital gain was to be computed allowing deduction for indexed cost of acquisition and exemption u/s 54B. Addition u/s 68 for unexplained investment in immovable property was deleted as assessee furnished sufficient evidence regarding source. Addition u/s 69 for unexplained investment was also deleted as source for purchase of property from sale proceeds was duly explained. Disallowance of sundry creditors was rejected as assessee proved genuineness and creditworthiness of lenders. Order was decided in favour of assessee.
The ITAT held: Long term capital gain was to be computed allowing deduction for indexed cost of acquisition and exemption u/s 54B. Addition u/s 68 for unexplained investment in immovable property was deleted as assessee furnished sufficient evidence regarding source. Addition u/s 69 for unexplained investment was also deleted as source for purchase of property from sale proceeds was duly explained. Disallowance of sundry creditors was rejected as assessee proved genuineness and creditworthiness of lenders. Order was decided in favour of assessee.
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