Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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...
HC rejected the assessee's claim for expenditure under 'debtors' head, finding insufficient evidence to support alleged trade practice of cash discounts. The Tribunal's findings were upheld, determining that the payments included non-revenue items like loan repayments and investments. The court concluded that without substantive proof of legitimate business expenditure, the original assessment stands. Appeals under Section 260A were dismissed, with questions answered in favor of the Revenue and against the assessee, affirming the Tribunal's original determination of non-allowable expenditure.
HC rejected the assessee's claim for expenditure under 'debtors' head, finding insufficient evidence to support alleged trade practice of cash discounts. The Tribunal's findings were upheld, determining that the payments included non-revenue items like loan repayments and investments. The court concluded that without substantive proof of legitimate business expenditure, the original assessment stands. Appeals under Section 260A were dismissed, with questions answered in favor of the Revenue and against the assessee, affirming the Tribunal's original determination of non-allowable expenditure.
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