SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
The AT allowed the appeal, holding the impugned monetary penalty order violated principles of natural justice for failure to effect valid service on the appellant. The tribunal found prima facie evidence that a third party (the employer) operated bank and demat accounts and facilitated accommodation entries and manipulative trades, but concluded the appellant was not afforded an opportunity to be heard. The AT therefore set aside the impugned order and remitted the matter to the Regulator with a direction to provide the appellant a fresh, lawful opportunity of hearing before passing any fresh adjudicatory order under the PFUTP Regulations.
The AT allowed the appeal, holding the impugned monetary penalty order violated principles of natural justice for failure to effect valid service on the appellant. The tribunal found prima facie evidence that a third party (the employer) operated bank and demat accounts and facilitated accommodation entries and manipulative trades, but concluded the appellant was not afforded an opportunity to be heard. The AT therefore set aside the impugned order and remitted the matter to the Regulator with a direction to provide the appellant a fresh, lawful opportunity of hearing before passing any fresh adjudicatory order under the PFUTP Regulations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
