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 tax authority has relaxed the time limit for processing electronically filed income tax returns that were incorrectly invalidated by the Central Processing Centre due to technical errors. Returns filed up to March 31, 2024, which were erroneously invalidated, shall now be processed, with intimation to taxpayers by March 31, 2026. All related consequences under the law, including refunds with applicable interest, will apply, except where PAN-Aadhaar linkage is missing, in which case refunds will not be issued. This directive is issued under the authority of the Income-tax Act to ensure proper validation and processing of affected returns.
The tax authority has relaxed the time limit for processing electronically filed income tax returns that were incorrectly invalidated by the Central Processing Centre due to technical errors. Returns filed up to March 31, 2024, which were erroneously invalidated, shall now be processed, with intimation to taxpayers by March 31, 2026. All related consequences under the law, including refunds with applicable interest, will apply, except where PAN-Aadhaar linkage is missing, in which case refunds will not be issued. This directive is issued under the authority of the Income-tax Act to ensure proper validation and processing of affected returns.
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