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 order of the CIT(A) which dismissed the appellant's appeal in limine under section 249(4)(b) for non-payment of advance tax. The appellant had filed a return in response to notice under section 148, claiming rebate under section 87A as the total income was below the taxable threshold, resulting in no advance tax liability. The Tribunal held that since the appellant had no tax liability, the provisions for dismissal under section 249(4)(b) were inapplicable. Consequently, the appeal should not have been dismissed without consideration of the merits. The matter was remanded to the AO for de novo assessment and appropriate adjudication, ensuring the appellant's case on cash deposit additions under section 69 is examined on its substantive merits.
The ITAT set aside the order of the CIT(A) which dismissed the appellant's appeal in limine under section 249(4)(b) for non-payment of advance tax. The appellant had filed a return in response to notice under section 148, claiming rebate under section 87A as the total income was below the taxable threshold, resulting in no advance tax liability. The Tribunal held that since the appellant had no tax liability, the provisions for dismissal under section 249(4)(b) were inapplicable. Consequently, the appeal should not have been dismissed without consideration of the merits. The matter was remanded to the AO for de novo assessment and appropriate adjudication, ensuring the appellant's case on cash deposit additions under section 69 is examined on its substantive merits.
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