Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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...
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HC allowed petitioner's application u/s 119(2)(b) for condonation of delay in filing revised ITR. The court found that the ITR was initially rejected due to an incorrect box being ticked regarding cash transactions, which did not impact actual income assessment. The petitioner demonstrated genuine hardship and claimed cash receipts were NIL, with cash payments not exceeding five percent of total payments. The court set aside the order rejecting the ITR and permitted the petitioner to file a revised return, recognizing the technical nature of the initial filing error.
HC allowed petitioner's application u/s 119(2)(b) for condonation of delay in filing revised ITR. The court found that the ITR was initially rejected due to an incorrect box being ticked regarding cash transactions, which did not impact actual income assessment. The petitioner demonstrated genuine hardship and claimed cash receipts were NIL, with cash payments not exceeding five percent of total payments. The court set aside the order rejecting the ITR and permitted the petitioner to file a revised return, recognizing the technical nature of the initial filing error.
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