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 TDS credit that was denied because it appeared in the trust's Form 26AS rather than the appellant's, despite the appellant being the trust's sole beneficiary. The tribunal noted that an inequitable situation had arisen where the Department neither granted credit to the trust nor the appellant, while still raising a demand against the appellant. The ITAT directed the AO to transfer the TDS credit from the trust's Form 26AS to the appellant's and allow the credit in accordance with law, acknowledging that while procedural compliance is important, the substantive right to tax credit cannot be denied when tax has been legitimately deducted and remitted to the government.
The ITAT allowed the appellant's claim for TDS credit that was denied because it appeared in the trust's Form 26AS rather than the appellant's, despite the appellant being the trust's sole beneficiary. The tribunal noted that an inequitable situation had arisen where the Department neither granted credit to the trust nor the appellant, while still raising a demand against the appellant. The ITAT directed the AO to transfer the TDS credit from the trust's Form 26AS to the appellant's and allow the credit in accordance with law, acknowledging that while procedural compliance is important, the substantive right to tax credit cannot be denied when tax has been legitimately deducted and remitted to the government.
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