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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HC held that the seizure of Rs. 15.80 lakhs from P1 by the Flying Squad/SST of R5 during Lok Sabha elections and its subsequent handover to the Income Tax Department (R2-R4) was illegal, arbitrary, irrational and without jurisdiction, having been effected in complete disregard of the Election Commission's SOP dated 19.08.2021. HC ruled that the seizure was not pursuant to an Income Tax raid under s.132 IT Act and that the Income Tax authorities wrongly assumed jurisdiction by retaining the amount in the P.D. account. HC directed R2-R4 to release the entire seized cash to P1 within four weeks, failing which R2-R4 shall pay interest at 9% p.a. from 05.04.2024 until actual refund. The writ petition was allowed.
HC held that the seizure of Rs. 15.80 lakhs from P1 by the Flying Squad/SST of R5 during Lok Sabha elections and its subsequent handover to the Income Tax Department (R2-R4) was illegal, arbitrary, irrational and without jurisdiction, having been effected in complete disregard of the Election Commission's SOP dated 19.08.2021. HC ruled that the seizure was not pursuant to an Income Tax raid under s.132 IT Act and that the Income Tax authorities wrongly assumed jurisdiction by retaining the amount in the P.D. account. HC directed R2-R4 to release the entire seized cash to P1 within four weeks, failing which R2-R4 shall pay interest at 9% p.a. from 05.04.2024 until actual refund. The writ petition was allowed.
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