Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
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