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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ITAT remanded case back to AO regarding LTCG computation and Section 54 deduction eligibility. Tribunal rejected AO's determination of 50% ownership share based solely on Khatha records, emphasizing that property ownership cannot be established through Khatha alone. AO directed to conduct fresh inquiry regarding assessee's claimed 25% share by examining partition deed and investigating separate property sales by family members. On Section 54 deduction, ITAT clarified that if construction commenced within prescribed 3-year period, deduction would be allowable even if completion extended beyond, subject to proper documentation. AO instructed to verify construction timeline and supporting documents. Appeal allowed for statistical purposes with directions for fresh assessment on both issues.
ITAT remanded case back to AO regarding LTCG computation and Section 54 deduction eligibility. Tribunal rejected AO's determination of 50% ownership share based solely on Khatha records, emphasizing that property ownership cannot be established through Khatha alone. AO directed to conduct fresh inquiry regarding assessee's claimed 25% share by examining partition deed and investigating separate property sales by family members. On Section 54 deduction, ITAT clarified that if construction commenced within prescribed 3-year period, deduction would be allowable even if completion extended beyond, subject to proper documentation. AO instructed to verify construction timeline and supporting documents. Appeal allowed for statistical purposes with directions for fresh assessment on both issues.
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