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 orders of the Assessing Officer and the First Appellate Authority regarding the demand under section 201(1)/201(1A) for non-deduction of TDS on LTC/LFC reimbursements, citing non-compliance with principles of natural justice due to the assessee's non-receipt of hearing notices. The matter was remanded to the AO for fresh adjudication, directing the assessee to file necessary evidence. Regarding the penalty under section 271C, the tribunal also set aside the impugned penalty order for reconsideration, as the assessee's submissions were not previously considered. Both appeals were allowed for statistical purposes, emphasizing the requirement of fair opportunity for the assessee to present its case before finalizing any demand or penalty.
The ITAT set aside the orders of the Assessing Officer and the First Appellate Authority regarding the demand under section 201(1)/201(1A) for non-deduction of TDS on LTC/LFC reimbursements, citing non-compliance with principles of natural justice due to the assessee's non-receipt of hearing notices. The matter was remanded to the AO for fresh adjudication, directing the assessee to file necessary evidence. Regarding the penalty under section 271C, the tribunal also set aside the impugned penalty order for reconsideration, as the assessee's submissions were not previously considered. Both appeals were allowed for statistical purposes, emphasizing the requirement of fair opportunity for the assessee to present its case before finalizing any demand or penalty.
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