Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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ITAT reversed addition made by AO under s.68 regarding Long Term Capital Gains from penny stock transactions. Assessee traded shares of KPL through recognized stock exchange with documented payment trails via account payee cheques. Following precedents from Gujarat HC, tribunal found no evidence of price manipulation or cash kickbacks. Genuineness of transactions established as assessee had no control over share prices, payments were properly documented through banking channels, and trades executed through official exchange. The alleged unexplained cash credits treated as legitimate LTCG exempt under s.10(38), resulting in deletion of additions made by AO. Appeal allowed in assessee's favor.
ITAT reversed addition made by AO under s.68 regarding Long Term Capital Gains from penny stock transactions. Assessee traded shares of KPL through recognized stock exchange with documented payment trails via account payee cheques. Following precedents from Gujarat HC, tribunal found no evidence of price manipulation or cash kickbacks. Genuineness of transactions established as assessee had no control over share prices, payments were properly documented through banking channels, and trades executed through official exchange. The alleged unexplained cash credits treated as legitimate LTCG exempt under s.10(38), resulting in deletion of additions made by AO. Appeal allowed in assessee's favor.
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