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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The ITAT allowed the appellant's claim for exemption under section 10(10AA) for earned leave encashment received upon retirement. Relying on the Jaipur Bench decision in Govind Chhatwani, the Tribunal noted that CBDT had revised the exemption limit from Rs. 3,00,000 to Rs. 25,00,000 through Notification No. 31/2023 dated 24-05-2023. Since the appellant's leave encashment amount fell below this revised threshold, the Tribunal directed the Assessing Officer to allow the claimed deduction within the prescribed limit. The appeal was accordingly allowed in the appellant's favor.
The ITAT allowed the appellant's claim for exemption under section 10(10AA) for earned leave encashment received upon retirement. Relying on the Jaipur Bench decision in Govind Chhatwani, the Tribunal noted that CBDT had revised the exemption limit from Rs. 3,00,000 to Rs. 25,00,000 through Notification No. 31/2023 dated 24-05-2023. Since the appellant's leave encashment amount fell below this revised threshold, the Tribunal directed the Assessing Officer to allow the claimed deduction within the prescribed limit. The appeal was accordingly allowed in the appellant's favor.
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