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 HC held that as per the proviso to Section 281, if the transfer is made for adequate consideration and without notice of the tax dues or pending proceedings by the Income Tax Department, the transfer cannot be deemed void. The petitioners had purchased the property through a court auction for adequate consideration, without knowledge of the tax proceedings against the previous owner. The attachment by the Income Tax Department was on a larger extent, while the petitioners purchased only a portion. Relying on precedent, the HC ruled that the petitioners' claim should be allowed, and the Income Tax Department cannot proceed against the bona fide purchasers.
The HC held that as per the proviso to Section 281, if the transfer is made for adequate consideration and without notice of the tax dues or pending proceedings by the Income Tax Department, the transfer cannot be deemed void. The petitioners had purchased the property through a court auction for adequate consideration, without knowledge of the tax proceedings against the previous owner. The attachment by the Income Tax Department was on a larger extent, while the petitioners purchased only a portion. Relying on precedent, the HC ruled that the petitioners' claim should be allowed, and the Income Tax Department cannot proceed against the bona fide purchasers.
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