Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT remanded the transfer pricing (TP) adjustment matter relating to support services payment to AO for fresh consideration, finding that TPO erroneously rejected the Transactional Net Margin Method (TNMM) as the Most Appropriate Method (MAM). Regarding Section 10AA deduction for Special Economic Zone (SEZ) services, the Tribunal held that services provided to foreign customers involving warehousing, logistics, and handling qualify under SEZ Act definitions. The Tribunal directed the AO to delete disallowances, noting prior assessments had accepted the deduction's eligibility, and finding the services met statutory requirements for claiming deduction under Section 10AA of the Income Tax Act.
ITAT remanded the transfer pricing (TP) adjustment matter relating to support services payment to AO for fresh consideration, finding that TPO erroneously rejected the Transactional Net Margin Method (TNMM) as the Most Appropriate Method (MAM). Regarding Section 10AA deduction for Special Economic Zone (SEZ) services, the Tribunal held that services provided to foreign customers involving warehousing, logistics, and handling qualify under SEZ Act definitions. The Tribunal directed the AO to delete disallowances, noting prior assessments had accepted the deduction's eligibility, and finding the services met statutory requirements for claiming deduction under Section 10AA of the Income Tax Act.
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