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...
Page of 4828
Press 'Enter' after typing page number.
161 to 180 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT upheld the assessment of unaccounted income derived from land transactions involving the assessee acting as an agent for Sahara India Commercial Corporation Ltd., confirming a principal-agent relationship rather than principal-to-principal. The tribunal affirmed the estimation of profit at 20% on bogus bills based on seized documents and statements, directing the AO to recompute net profit accordingly. Additions under sections 40A(3) and 37(1) were disallowed as payments were made on Sahara's instructions via account payee cheques. Interest income accrued and identified from seized material was rightly taxed without telescoping. Notional interest on interest-free advances was deleted, as no diversion of borrowed funds was established. Additions for unexplained cash deposits and loose papers were deleted due to lack of corroborative evidence and acceptance of cash flow in regular books. The CIT(A)'s deletion of unsustainable additions was affirmed, and reassessment directed only on the profit estimation.
The ITAT upheld the assessment of unaccounted income derived from land transactions involving the assessee acting as an agent for Sahara India Commercial Corporation Ltd., confirming a principal-agent relationship rather than principal-to-principal. The tribunal affirmed the estimation of profit at 20% on bogus bills based on seized documents and statements, directing the AO to recompute net profit accordingly. Additions under sections 40A(3) and 37(1) were disallowed as payments were made on Sahara's instructions via account payee cheques. Interest income accrued and identified from seized material was rightly taxed without telescoping. Notional interest on interest-free advances was deleted, as no diversion of borrowed funds was established. Additions for unexplained cash deposits and loose papers were deleted due to lack of corroborative evidence and acceptance of cash flow in regular books. The CIT(A)'s deletion of unsustainable additions was affirmed, and reassessment directed only on the profit estimation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
