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 dismissed the revenue's appeals and upheld the CIT(A)'s order deleting the additions made by the AO. The assessee provided invoices and documents proving the purchases, which were accepted in the remand report. The 10% disallowance of other expenses was deleted after the AO verified the invoices. The disallowance of foreign exchange loss was rejected, relying on precedents that the revenue cannot question the commercial expediency of business expenditure if the nexus with business is established.
The ITAT dismissed the revenue's appeals and upheld the CIT(A)'s order deleting the additions made by the AO. The assessee provided invoices and documents proving the purchases, which were accepted in the remand report. The 10% disallowance of other expenses was deleted after the AO verified the invoices. The disallowance of foreign exchange loss was rejected, relying on precedents that the revenue cannot question the commercial expediency of business expenditure if the nexus with business is established.
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