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 AT dismissed the appeal of beneficial owners (bullion companies) who were found to have created backdated entries to conceal demonetized currency transactions exceeding Rs. 35 crores. Though appellants claimed legitimate gold transactions, FSL digital device reports contradicted this, showing they lacked sufficient gold stock to match RTGS transfers. The procedural objection regarding the 30-day notice period was rejected as appellants received adequate response time. However, the AT allowed appeals by abettors, holding that while they facilitated the benami transactions, their properties could not be attached under the 1988 Act as they were neither beneficial owners nor benamidars. The abettors remain subject to prosecution under Section 53 but their property attachments were set aside.
The AT dismissed the appeal of beneficial owners (bullion companies) who were found to have created backdated entries to conceal demonetized currency transactions exceeding Rs. 35 crores. Though appellants claimed legitimate gold transactions, FSL digital device reports contradicted this, showing they lacked sufficient gold stock to match RTGS transfers. The procedural objection regarding the 30-day notice period was rejected as appellants received adequate response time. However, the AT allowed appeals by abettors, holding that while they facilitated the benami transactions, their properties could not be attached under the 1988 Act as they were neither beneficial owners nor benamidars. The abettors remain subject to prosecution under Section 53 but their property attachments were set aside.
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