Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
ITAT adjudicated multiple tax issues for the assessee, rendering key decisions: On bad debt deduction, ITAT held that claiming ascertained bad debt in the current assessment year is permissible, considering the tax rate remained consistent across fiscal years. The tribunal allowed the assessee's claim, finding no procedural bar in claiming the deduction. Regarding data field costs, ITAT determined these expenditures constitute direct business expenses correlated with market research fees. The tribunal accepted the assessee's submission, noting the expenditures were duly audited and represented legitimate operational costs. In transfer pricing matters, ITAT directed the AO/TPO to include a profitable comparable company in the economic analysis, rejecting persistent loss criteria. The tribunal also declined to treat provisions written back as operating income, emphasizing insufficient demonstration of direct business linkage.
ITAT adjudicated multiple tax issues for the assessee, rendering key decisions: On bad debt deduction, ITAT held that claiming ascertained bad debt in the current assessment year is permissible, considering the tax rate remained consistent across fiscal years. The tribunal allowed the assessee's claim, finding no procedural bar in claiming the deduction. Regarding data field costs, ITAT determined these expenditures constitute direct business expenses correlated with market research fees. The tribunal accepted the assessee's submission, noting the expenditures were duly audited and represented legitimate operational costs. In transfer pricing matters, ITAT directed the AO/TPO to include a profitable comparable company in the economic analysis, rejecting persistent loss criteria. The tribunal also declined to treat provisions written back as operating income, emphasizing insufficient demonstration of direct business linkage.
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