Transfer-pricing comparability permits fresh objections and filters where software service comparables are functionally unsuitable for arm's-length pr...
Territorial rendering requirement excludes China-based management and consultancy services from fees for technical services under the India-China DTAA...
FEMA borrowing restrictions bind charitable trusts, and civil penalties apply without proving intent for delayed repayment of non-resident rupee loans...
The ITAT held that additions under section 153A based on purported bogus Long Term Capital Gains and commission expenses were unsustainable in the absence of any incriminating material discovered during the search. Following established precedent, the AO cannot invoke section 153A to reassess completed assessments without search-based incriminating evidence. Consequently, the Tribunal upheld the CIT(A)'s deletion of the additions. However, the CIT(A)'s direction to the AO to initiate proceedings under sections 147/148 was held to be beyond jurisdiction, as reopening cannot be indirectly mandated post section 153A adjudication, preserving the finality of proceedings. The Tribunal allowed the assessee's cross-objection, clarifying that the CIT(A)'s remit ended with the deletion of the additions, and any advice or compulsion for fresh litigation under section 147 was ultra vires.
The ITAT held that additions under section 153A based on purported bogus Long Term Capital Gains and commission expenses were unsustainable in the absence of any incriminating material discovered during the search. Following established precedent, the AO cannot invoke section 153A to reassess completed assessments without search-based incriminating evidence. Consequently, the Tribunal upheld the CIT(A)'s deletion of the additions. However, the CIT(A)'s direction to the AO to initiate proceedings under sections 147/148 was held to be beyond jurisdiction, as reopening cannot be indirectly mandated post section 153A adjudication, preserving the finality of proceedings. The Tribunal allowed the assessee's cross-objection, clarifying that the CIT(A)'s remit ended with the deletion of the additions, and any advice or compulsion for fresh litigation under section 147 was ultra vires.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
