Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
ITAT allowed assessee's appeal on multiple grounds of disallowance. The tribunal permitted ESOP expenses as deductible business expenditure under Section 37(1), upheld charges paid to stock exchanges as legitimate business expenses, and recognized settlement charges paid to SEBI as allowable expenditure. The tribunal consistently followed precedential decisions from previous cases involving similar technical violations and financial transactions. For gratuity payment reversal, ITAT directed the Assessing Officer to verify facts and provide appropriate relief, allowing the ground for statistical purposes with a requirement for the assessee to submit detailed documentation.
ITAT allowed assessee's appeal on multiple grounds of disallowance. The tribunal permitted ESOP expenses as deductible business expenditure under Section 37(1), upheld charges paid to stock exchanges as legitimate business expenses, and recognized settlement charges paid to SEBI as allowable expenditure. The tribunal consistently followed precedential decisions from previous cases involving similar technical violations and financial transactions. For gratuity payment reversal, ITAT directed the Assessing Officer to verify facts and provide appropriate relief, allowing the ground for statistical purposes with a requirement for the assessee to submit detailed documentation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
