Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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ITAT quashed Principal CIT's revision order under section 263 regarding disallowance of section 80G deduction for charitable donations. The assessee was selected for scrutiny due to large donation amounts. The assessing officer examined and disallowed donations to Urvashi Foundations but implicitly accepted other charitable donations after receiving required details. ITAT held that the assessing officer's decision to allow 50% deduction under section 80G for CSR expenses was consistent with tribunal precedents, citing DCIT v Gabriel India. The tribunal concluded that twin conditions for exercising section 263 jurisdiction were not satisfied as the assessment order was neither erroneous nor prejudicial to revenue interests, making the revision order unsustainable.
ITAT quashed Principal CIT's revision order under section 263 regarding disallowance of section 80G deduction for charitable donations. The assessee was selected for scrutiny due to large donation amounts. The assessing officer examined and disallowed donations to Urvashi Foundations but implicitly accepted other charitable donations after receiving required details. ITAT held that the assessing officer's decision to allow 50% deduction under section 80G for CSR expenses was consistent with tribunal precedents, citing DCIT v Gabriel India. The tribunal concluded that twin conditions for exercising section 263 jurisdiction were not satisfied as the assessment order was neither erroneous nor prejudicial to revenue interests, making the revision order unsustainable.
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