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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The SC dismissed the SLP on grounds of both unexplained delay of 271 days and merits. The Court upheld the HC's finding that share premium received on issuance of shares constitutes a capital account transaction and does not generate income. The addition of the entire share premium as unexplained cash credit under Section 68 was improper, given the absence of any violation of Section 78(2) of the Companies Act, 1956 regarding utilization of the share premium account. The Assessing Officer's failure to distinguish between creation of share premium and utilization of funds was affirmed. Consequently, no interference was warranted with the HC order, and the addition to income was disallowed.
The SC dismissed the SLP on grounds of both unexplained delay of 271 days and merits. The Court upheld the HC's finding that share premium received on issuance of shares constitutes a capital account transaction and does not generate income. The addition of the entire share premium as unexplained cash credit under Section 68 was improper, given the absence of any violation of Section 78(2) of the Companies Act, 1956 regarding utilization of the share premium account. The Assessing Officer's failure to distinguish between creation of share premium and utilization of funds was affirmed. Consequently, no interference was warranted with the HC order, and the addition to income was disallowed.
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