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 upheld ITAT's ruling allowing depreciation on goodwill acquired through amalgamation. Revenue authorities were estopped from challenging the scheme's validity since they failed to object when given notice during the amalgamation approval process. The Income Tax Department received scheme copy on July 8, 2015, with 15 days to respond but filed no objections by August 26, 2015. The share exchange ratio was explicitly included in paragraph 11.1 of the amalgamation scheme. ITAT considered that depreciation on goodwill was previously allowed for AY 2013-14 and initially for AY 2014-15 (though later reopened). HC found no grounds to interfere with ITAT's decision that CIT's order affirming AO's disallowance was erroneous.
HC upheld ITAT's ruling allowing depreciation on goodwill acquired through amalgamation. Revenue authorities were estopped from challenging the scheme's validity since they failed to object when given notice during the amalgamation approval process. The Income Tax Department received scheme copy on July 8, 2015, with 15 days to respond but filed no objections by August 26, 2015. The share exchange ratio was explicitly included in paragraph 11.1 of the amalgamation scheme. ITAT considered that depreciation on goodwill was previously allowed for AY 2013-14 and initially for AY 2014-15 (though later reopened). HC found no grounds to interfere with ITAT's decision that CIT's order affirming AO's disallowance was erroneous.
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