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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HC ruled against levying interest u/s 234B for additions made to book profit under MAT provisions. Court emphasized that multiple Coordinate Benches previously established that interest cannot be charged when retrospective amendments to Section 115JB's explanation (via Finance Act 2008) result in book profit adjustments. Court criticized revenue authorities for failing to disclose binding precedents from previous cases involving similar issues. While acknowledging taxation matters exclude equity considerations, HC stressed revenue's obligation for transparency in legal proceedings. Appeal was dismissed, upholding that retrospective inclusion of items in book profit computation does not warrant Section 234B interest charges.
HC ruled against levying interest u/s 234B for additions made to book profit under MAT provisions. Court emphasized that multiple Coordinate Benches previously established that interest cannot be charged when retrospective amendments to Section 115JB's explanation (via Finance Act 2008) result in book profit adjustments. Court criticized revenue authorities for failing to disclose binding precedents from previous cases involving similar issues. While acknowledging taxation matters exclude equity considerations, HC stressed revenue's obligation for transparency in legal proceedings. Appeal was dismissed, upholding that retrospective inclusion of items in book profit computation does not warrant Section 234B interest charges.
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