PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT dismissed revenue's appeal regarding transfer pricing adjustment under Section 92BA. The tribunal held that post-Finance Act 2017 amendment, which omitted the specific sub-clause, effectively means the provision was never part of the statute. Consequently, the Assessing Officer's action under Section 92CA was deemed invalid, rendering the Transfer Pricing Officer and Dispute Resolution Panel's consequential orders unsustainable. The tribunal unequivocally rejected revenue's contentions, emphasizing the legal principle that legislative omission negates retrospective transfer pricing assessments, thus providing a definitive ruling against administrative tax reassessments.
ITAT dismissed revenue's appeal regarding transfer pricing adjustment under Section 92BA. The tribunal held that post-Finance Act 2017 amendment, which omitted the specific sub-clause, effectively means the provision was never part of the statute. Consequently, the Assessing Officer's action under Section 92CA was deemed invalid, rendering the Transfer Pricing Officer and Dispute Resolution Panel's consequential orders unsustainable. The tribunal unequivocally rejected revenue's contentions, emphasizing the legal principle that legislative omission negates retrospective transfer pricing assessments, thus providing a definitive ruling against administrative tax reassessments.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
