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 ITAT set aside the CIT(A)'s order and remitted the appeal for fresh adjudication, noting the assessee's failure to adequately respond to penalty notices under section 271DA for violation of section 269ST, relating to receipt of cash exceeding Rs. 2,00,000. The Tribunal observed that the CIT(A) had not disposed of the appeal on merits and condoned the delay in filing the appeal due to the assessee's incarceration, which hindered timely response. The ITAT directed the CIT(A) to provide the assessee a fair opportunity to represent the case and allow the AO to be heard pursuant to rule 46A of the Income Tax Rules, 1962, before passing a reasoned order in accordance with law. The matter is thus remanded to ensure adherence to principles of natural justice and proper consideration of the facts and submissions.
The ITAT set aside the CIT(A)'s order and remitted the appeal for fresh adjudication, noting the assessee's failure to adequately respond to penalty notices under section 271DA for violation of section 269ST, relating to receipt of cash exceeding Rs. 2,00,000. The Tribunal observed that the CIT(A) had not disposed of the appeal on merits and condoned the delay in filing the appeal due to the assessee's incarceration, which hindered timely response. The ITAT directed the CIT(A) to provide the assessee a fair opportunity to represent the case and allow the AO to be heard pursuant to rule 46A of the Income Tax Rules, 1962, before passing a reasoned order in accordance with law. The matter is thus remanded to ensure adherence to principles of natural justice and proper consideration of the facts and submissions.
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