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 HC disposed the petition granting petitioners leave to pursue statutory refund remedies, holding that petitioners must file an application under section 119(2)(b) seeking condonation of delay in filing the income-tax return and claiming refund of TDS deducted on compensation. The court noted that sections 237 and 239 govern entitlement and time-bar for refunds and referred to Instruction No.13/2006 permitting Commissioner level condonation for refund claims within prescribed limits. Time during pendency of the writ (filed 25.03.2019) is excluded in computing the six-year limitation for AY 2013-14. Petitioners were afforded eight weeks from the order to file the said application before the Principal Commissioner.
The HC disposed the petition granting petitioners leave to pursue statutory refund remedies, holding that petitioners must file an application under section 119(2)(b) seeking condonation of delay in filing the income-tax return and claiming refund of TDS deducted on compensation. The court noted that sections 237 and 239 govern entitlement and time-bar for refunds and referred to Instruction No.13/2006 permitting Commissioner level condonation for refund claims within prescribed limits. Time during pendency of the writ (filed 25.03.2019) is excluded in computing the six-year limitation for AY 2013-14. Petitioners were afforded eight weeks from the order to file the said application before the Principal Commissioner.
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