Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
ITAT held that the AO's rejection of the assessee's DCF valuation under s.56(2)(viib) read with r.11UA was impermissible absent pinpointing of specific errors; the DCF methodology adopted by the assessee was a permissible valuation and cannot be supplanted by AO's unsupported conclusion. The Tribunal further held that where substantial subscriptions emanated from a non-resident subscriber, s.56(2)(viib) could not sustain additions in respect of those subscriptions. AO's subsequent addition under s.68 was unsustainable because AO did not challenge identity, genuineness or creditworthiness nor discharge the onus to disprove the assessee's explanation. The Tribunal deleted the addition of Rs.60,06,500 and allowed the grounds.
ITAT held that the AO's rejection of the assessee's DCF valuation under s.56(2)(viib) read with r.11UA was impermissible absent pinpointing of specific errors; the DCF methodology adopted by the assessee was a permissible valuation and cannot be supplanted by AO's unsupported conclusion. The Tribunal further held that where substantial subscriptions emanated from a non-resident subscriber, s.56(2)(viib) could not sustain additions in respect of those subscriptions. AO's subsequent addition under s.68 was unsustainable because AO did not challenge identity, genuineness or creditworthiness nor discharge the onus to disprove the assessee's explanation. The Tribunal deleted the addition of Rs.60,06,500 and allowed the grounds.
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