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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
ITAT set aside the impugned order of the CIT(A) and restored the matter to the file of the CIT(A) for de novo adjudication. The Tribunal noted that the joint development agreement was subsequently cancelled and no development was executed-facts central to whether a transfer occurred under section 2(24) read with the Transfer of Property Act-which the CIT(A) had overlooked. The CIT(A) is directed to afford the assessee an opportunity of hearing, to consider all documentary evidence tendered, and to decide the issue afresh by a reasoned, speaking order in accordance with law. Proceedings are remitted for reconsideration on these specified factual and legal aspects.
ITAT set aside the impugned order of the CIT(A) and restored the matter to the file of the CIT(A) for de novo adjudication. The Tribunal noted that the joint development agreement was subsequently cancelled and no development was executed-facts central to whether a transfer occurred under section 2(24) read with the Transfer of Property Act-which the CIT(A) had overlooked. The CIT(A) is directed to afford the assessee an opportunity of hearing, to consider all documentary evidence tendered, and to decide the issue afresh by a reasoned, speaking order in accordance with law. Proceedings are remitted for reconsideration on these specified factual and legal aspects.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
