Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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ITAT addressed MAT computation under Section 115JB regarding interest subsidy received under TUF scheme. The Tribunal held that capital receipts and exempt income are to be excluded while computing book profits. Relying on previous decisions in similar cases involving Reliance Industries Limited and consistent judicial precedents, the Tribunal affirmed the CIT(A)'s order deleting the addition of interest subsidy while calculating book profit. The Tribunal distinguished earlier judgments related to Section 115J and emphasized the specific applicability to Section 115JB. Ultimately, the decision was rendered against the revenue, confirming that the interest subsidy should not be included in book profit calculations.
ITAT addressed MAT computation under Section 115JB regarding interest subsidy received under TUF scheme. The Tribunal held that capital receipts and exempt income are to be excluded while computing book profits. Relying on previous decisions in similar cases involving Reliance Industries Limited and consistent judicial precedents, the Tribunal affirmed the CIT(A)'s order deleting the addition of interest subsidy while calculating book profit. The Tribunal distinguished earlier judgments related to Section 115J and emphasized the specific applicability to Section 115JB. Ultimately, the decision was rendered against the revenue, confirming that the interest subsidy should not be included in book profit calculations.
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