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 allowed the assessee's appeal challenging leave encashment deduction under section 10(10AA). The tribunal found that the CIT(A)'s rejection based on non-submission of Form 16 was untenable, as the Assessing Officer already had information about the claimed amount of Rs. 20,29,482. Pursuant to the CBDT notification dated 24th May 2023, the leave encashment limit was revised to Rs. 25,00,000, thereby enabling the assessee to claim the entire amount instead of the previously restricted Rs. 3,00,000. The tribunal directed the Assessing Officer to allow the deduction consistent with the revised statutory limit.
ITAT allowed the assessee's appeal challenging leave encashment deduction under section 10(10AA). The tribunal found that the CIT(A)'s rejection based on non-submission of Form 16 was untenable, as the Assessing Officer already had information about the claimed amount of Rs. 20,29,482. Pursuant to the CBDT notification dated 24th May 2023, the leave encashment limit was revised to Rs. 25,00,000, thereby enabling the assessee to claim the entire amount instead of the previously restricted Rs. 3,00,000. The tribunal directed the Assessing Officer to allow the deduction consistent with the revised statutory limit.
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