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 allowed appeal against addition made under Section 68 for alleged bogus share capital. Three share subscribers - Aakansha Advisory Services Pvt Ltd, Sunirmiti Mercantile Pvt Ltd and Arihant Enterprises Ltd - demonstrated adequate creditworthiness through their balance sheets and financial statements for FY 2016-17. The Tribunal held that assessee successfully discharged onus by establishing identity, creditworthiness and genuineness of transactions. CIT(A)'s dismissal solely on grounds of FY 2015-16 statements being furnished instead of FY 2016-17 was incorrect. Non-compliance with notices under Section 133(6) alone cannot justify addition when substantive evidence of creditworthiness exists. Addition deleted.
ITAT allowed appeal against addition made under Section 68 for alleged bogus share capital. Three share subscribers - Aakansha Advisory Services Pvt Ltd, Sunirmiti Mercantile Pvt Ltd and Arihant Enterprises Ltd - demonstrated adequate creditworthiness through their balance sheets and financial statements for FY 2016-17. The Tribunal held that assessee successfully discharged onus by establishing identity, creditworthiness and genuineness of transactions. CIT(A)'s dismissal solely on grounds of FY 2015-16 statements being furnished instead of FY 2016-17 was incorrect. Non-compliance with notices under Section 133(6) alone cannot justify addition when substantive evidence of creditworthiness exists. Addition deleted.
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