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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The ITAT set aside the CIT(A)'s order dismissing the assessee's appeal as not maintainable due to non-payment of advance tax, holding that the statutory requirement under Section 249(4)(b) arises only if the assessee is liable to pay advance tax. Since the assessee claimed no taxable income exceeding the exemption limit and thus no obligation to pay advance tax, the appeal's dismissal on maintainability grounds was improper. The tribunal directed the CIT(A) to adjudicate the appeal on merits. The appeal was allowed for statistical purposes, reinstating the assessee's right to have the substantive issues examined.
The ITAT set aside the CIT(A)'s order dismissing the assessee's appeal as not maintainable due to non-payment of advance tax, holding that the statutory requirement under Section 249(4)(b) arises only if the assessee is liable to pay advance tax. Since the assessee claimed no taxable income exceeding the exemption limit and thus no obligation to pay advance tax, the appeal's dismissal on maintainability grounds was improper. The tribunal directed the CIT(A) to adjudicate the appeal on merits. The appeal was allowed for statistical purposes, reinstating the assessee's right to have the substantive issues examined.
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