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...
Page of 4828
Press 'Enter' after typing page number.
161 to 180 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC reversed the Tribunal's order regarding unexplained cash credits under Section 68, finding that the Tribunal had adopted a casual approach by merely following earlier orders without proper reasoning. The Court held that if the assessee fails to explain beneficiaries' identity, the entire amount should be added under Section 68, not just 0.15% as commission. The Court criticized the assessee's claim of providing accommodation entries without maintaining beneficiary details, noting this was implausible since the assessee must know withdrawal recipients. The Court directed ICAI to investigate professional misconduct by the CA involved and suggested PMLA authorities investigate potential money laundering. The HC maintained the 0.15% commission rate for identified credits only.
The HC reversed the Tribunal's order regarding unexplained cash credits under Section 68, finding that the Tribunal had adopted a casual approach by merely following earlier orders without proper reasoning. The Court held that if the assessee fails to explain beneficiaries' identity, the entire amount should be added under Section 68, not just 0.15% as commission. The Court criticized the assessee's claim of providing accommodation entries without maintaining beneficiary details, noting this was implausible since the assessee must know withdrawal recipients. The Court directed ICAI to investigate professional misconduct by the CA involved and suggested PMLA authorities investigate potential money laundering. The HC maintained the 0.15% commission rate for identified credits only.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
