Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
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The ITAT allowed the appeal of the assessee. Disallowance under s.14A read with r.8D was deleted as assessee's own funds exceeded investments, permitting presumption investments were from own funds. Payments of commission were held not excessive and allowable. Additions under s.36(1)(iii) in respect of inter-company transactions were deleted as bona fide business dealings, not loans. Suo-moto disallowances made in the return under r.8D(2)(ii) and r.8D(2)(iii) were ordered deleted; r.8D(2)(iii) computations confined to investments yielding exempt income and AO directed to verify calculations. Advances to subsidiary/sister concerns held commercially expedient; AO directed to delete related interest disallowances.
The ITAT allowed the appeal of the assessee. Disallowance under s.14A read with r.8D was deleted as assessee's own funds exceeded investments, permitting presumption investments were from own funds. Payments of commission were held not excessive and allowable. Additions under s.36(1)(iii) in respect of inter-company transactions were deleted as bona fide business dealings, not loans. Suo-moto disallowances made in the return under r.8D(2)(ii) and r.8D(2)(iii) were ordered deleted; r.8D(2)(iii) computations confined to investments yielding exempt income and AO directed to verify calculations. Advances to subsidiary/sister concerns held commercially expedient; AO directed to delete related interest disallowances.
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