Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The ITAT upheld the deletion of addition under Section 56(2)(viib) relating to security premium, affirming that the assessee's reliance on the Discounted Cash Flow (DCF) valuation report by a Chartered Accountant is valid. The AO cannot substitute or question the fair market value determined using prescribed methods under the Act and Rules. Additionally, the ITAT confirmed the allowability of depreciation on a non-refundable deposit paid for acquiring intangible rights to operate and manage a hospital, recognizing it as a depreciable intangible asset. This aligns with precedent affirming that transferable intangible rights qualify for depreciation. The Revenue's appeal was dismissed in its entirety.
The ITAT upheld the deletion of addition under Section 56(2)(viib) relating to security premium, affirming that the assessee's reliance on the Discounted Cash Flow (DCF) valuation report by a Chartered Accountant is valid. The AO cannot substitute or question the fair market value determined using prescribed methods under the Act and Rules. Additionally, the ITAT confirmed the allowability of depreciation on a non-refundable deposit paid for acquiring intangible rights to operate and manage a hospital, recognizing it as a depreciable intangible asset. This aligns with precedent affirming that transferable intangible rights qualify for depreciation. The Revenue's appeal was dismissed in its entirety.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
