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 overturned the CIT(A)'s finding that the Provision for Claim Pay Out was created on an adhoc basis. The Tribunal determined that the assessee had established an ascertained liability based on an independent actuarial report, considering the Trust Deed, Scheme, and applicable agreement provisions. The provision created for AY 2019-2020 was less than the actual pay out, with only a 2.21% aggregate difference between provisions and actual payouts from AY 2016-2017 to AY 2022-2023. The assessee has since been granted tax exemption under s.10(46B) by the Finance Act, 2023. The ITAT directed the AO to grant deduction for the Provision for Claim Pay Out created during the relevant previous year. Appeal allowed.
ITAT overturned the CIT(A)'s finding that the Provision for Claim Pay Out was created on an adhoc basis. The Tribunal determined that the assessee had established an ascertained liability based on an independent actuarial report, considering the Trust Deed, Scheme, and applicable agreement provisions. The provision created for AY 2019-2020 was less than the actual pay out, with only a 2.21% aggregate difference between provisions and actual payouts from AY 2016-2017 to AY 2022-2023. The assessee has since been granted tax exemption under s.10(46B) by the Finance Act, 2023. The ITAT directed the AO to grant deduction for the Provision for Claim Pay Out created during the relevant previous year. Appeal allowed.
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