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 held that Section 279(2) of Income Tax Act, 1961 empowers Principal Chief Commissioner or Chief Commissioner to suo motu compound offenses under Section 276B. The court found that despite prescribed application forms, authorities retain discretionary power to compound offenses, particularly when defaulted tax deposit with interest occurs prior to complaint filing. Given the significant time lapse between tax deposit and criminal proceedings, the court determined continuation of criminal proceedings would constitute abuse of legal process, thereby allowing petitioner's prayer and effectively terminating the criminal case.
HC held that Section 279(2) of Income Tax Act, 1961 empowers Principal Chief Commissioner or Chief Commissioner to suo motu compound offenses under Section 276B. The court found that despite prescribed application forms, authorities retain discretionary power to compound offenses, particularly when defaulted tax deposit with interest occurs prior to complaint filing. Given the significant time lapse between tax deposit and criminal proceedings, the court determined continuation of criminal proceedings would constitute abuse of legal process, thereby allowing petitioner's prayer and effectively terminating the criminal case.
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