TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The ITAT addressed the determination of Annual Letting Value (ALV) under Section 23(1)(a) for unsold property units held as stock-in-trade. Relying on precedents from Bombay and Delhi High Courts, the tribunal mandated that notional rent calculation must align with municipal laws, considering potential rent inflation or deflation, without exceeding standard rent under applicable Rent Control Legislation. The tribunal directed the Assessing Officer to determine notional rent using established valuation methods, specifically referencing decisions in Tip Top Typography and Inorbit Malls. The ruling emphasizes a nuanced approach to calculating hypothetical rental income, ensuring compliance with municipal valuation principles and statutory guidelines.
The ITAT addressed the determination of Annual Letting Value (ALV) under Section 23(1)(a) for unsold property units held as stock-in-trade. Relying on precedents from Bombay and Delhi High Courts, the tribunal mandated that notional rent calculation must align with municipal laws, considering potential rent inflation or deflation, without exceeding standard rent under applicable Rent Control Legislation. The tribunal directed the Assessing Officer to determine notional rent using established valuation methods, specifically referencing decisions in Tip Top Typography and Inorbit Malls. The ruling emphasizes a nuanced approach to calculating hypothetical rental income, ensuring compliance with municipal valuation principles and statutory guidelines.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
