SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
The ITAT partially allowed the assessee's appeal concerning bogus accommodation sales bill entries. The Tribunal held that, given the beneficiary of the accommodation entries was identified based on the survey, the commission rate on such entries should be fixed at 5%, aligning with precedent. The Assessing Officer's application of a 10% commission rate lacked justification, and the Commissioner's order was accordingly set aside to the extent of the commission rate. The AO was directed to apply a 5% commission on the accommodation entries instead of 10%. The Department's stand supporting the 10% rate was rejected, and the appeal was allowed in part.
The ITAT partially allowed the assessee's appeal concerning bogus accommodation sales bill entries. The Tribunal held that, given the beneficiary of the accommodation entries was identified based on the survey, the commission rate on such entries should be fixed at 5%, aligning with precedent. The Assessing Officer's application of a 10% commission rate lacked justification, and the Commissioner's order was accordingly set aside to the extent of the commission rate. The AO was directed to apply a 5% commission on the accommodation entries instead of 10%. The Department's stand supporting the 10% rate was rejected, and the appeal was allowed in part.
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TaxTMI 
TaxTMI 
of 4879 
