Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
Page of 4830
Press 'Enter' after typing page number.
181 to 200 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT held that the invocation of revisional jurisdiction under s.263 by CIT(E) was unsustainable and set aside the impugned revisional order. The Tribunal found that the assessee operates as a mutual concern and, absent any AO finding to the contrary or a claim of depreciation by the assessee, surplus within mutuality is not taxable and s.50 could not be applied to treat the sale of the office premises as generating short-term capital gain. Consequently, there was no requirement for the AO to make further inquiry; the assessment order was restored and the assessee's appeal was allowed.
ITAT held that the invocation of revisional jurisdiction under s.263 by CIT(E) was unsustainable and set aside the impugned revisional order. The Tribunal found that the assessee operates as a mutual concern and, absent any AO finding to the contrary or a claim of depreciation by the assessee, surplus within mutuality is not taxable and s.50 could not be applied to treat the sale of the office premises as generating short-term capital gain. Consequently, there was no requirement for the AO to make further inquiry; the assessment order was restored and the assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
