Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The ITAT addressed transfer pricing and tax deduction matters. In the TP adjustment, the tribunal remanded the case to the TPO/AO to determine arm's length pricing using TNNM method, with a 3% tolerance range for operating margin. For weighted deduction under section 35(2AB), the tribunal allowed the assessee's claim consistently with a prior year's order. Regarding additional depreciation under section 32(iia), the tribunal directed the AO to comply with DRP's instructions and allow the depreciation claim, criticizing the AO's failure to implement previous directions. The decision emphasizes procedural compliance and consistent interpretation of tax regulations.
The ITAT addressed transfer pricing and tax deduction matters. In the TP adjustment, the tribunal remanded the case to the TPO/AO to determine arm's length pricing using TNNM method, with a 3% tolerance range for operating margin. For weighted deduction under section 35(2AB), the tribunal allowed the assessee's claim consistently with a prior year's order. Regarding additional depreciation under section 32(iia), the tribunal directed the AO to comply with DRP's instructions and allow the depreciation claim, criticizing the AO's failure to implement previous directions. The decision emphasizes procedural compliance and consistent interpretation of tax regulations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
