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 held that assessing officers acted on software-generated data without requisite application of mind, initiating proceedings against entities (including a merged bank and deceased/amalgamated persons) based on unverified, potentially erroneous PAN entries, thereby causing high-pitched, avoidable litigation; the Department was found to be treating the software as master rather than a tool and has undertaken corrective measures. The petition was disposed of, administrative proceedings against the AOs reserved, and the previously levied exemplary cost of Rs. 1 crore was reduced: respondent nos.1 and 2 were directed to pay Rs. 10,000 each (total) to the State Legal Services Authority as token costs.
The HC held that assessing officers acted on software-generated data without requisite application of mind, initiating proceedings against entities (including a merged bank and deceased/amalgamated persons) based on unverified, potentially erroneous PAN entries, thereby causing high-pitched, avoidable litigation; the Department was found to be treating the software as master rather than a tool and has undertaken corrective measures. The petition was disposed of, administrative proceedings against the AOs reserved, and the previously levied exemplary cost of Rs. 1 crore was reduced: respondent nos.1 and 2 were directed to pay Rs. 10,000 each (total) to the State Legal Services Authority as token costs.
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