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 reversed AO's addition under section 68 regarding alleged bogus long-term capital gains (LTCG). The tribunal found insufficient evidence to reject taxpayer's claim for exemption under section 10(38), as documentary evidence supported genuine share transactions. AO's rejection was based solely on unsubstantiated statements from individuals who were not produced for cross-examination. The related addition of estimated 2% commission was also deleted, as the underlying LTCG transactions were held genuine. CIT(A)'s deletion of additions was upheld, and Revenue's appeal was dismissed due to lack of merit in challenging the authenticity of share transactions.
ITAT reversed AO's addition under section 68 regarding alleged bogus long-term capital gains (LTCG). The tribunal found insufficient evidence to reject taxpayer's claim for exemption under section 10(38), as documentary evidence supported genuine share transactions. AO's rejection was based solely on unsubstantiated statements from individuals who were not produced for cross-examination. The related addition of estimated 2% commission was also deleted, as the underlying LTCG transactions were held genuine. CIT(A)'s deletion of additions was upheld, and Revenue's appeal was dismissed due to lack of merit in challenging the authenticity of share transactions.
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