Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
Company oppression/mismanagement petition amendments and maintainability after alleged share transfer and forgery claims; tribunal order quashed for l...
ITAT allowed Revenue's appeal and restored the disallowance of weighted deduction claimed u/s 35(1)(ii) by the assessee on donations made to a specified research institute. The Tribunal held that the donee institute did not have valid approval u/s 35(1)(ii) after 31.03.2006 and had procured donations on the basis of forged documents, rendering the assessee's claim impermissible in law. Relying on its earlier decision in a comparable case and the adverse findings of the Revenue, ITAT upheld the AO's action and quashed the order of CIT(A) which had granted relief to the assessee.
ITAT allowed Revenue's appeal and restored the disallowance of weighted deduction claimed u/s 35(1)(ii) by the assessee on donations made to a specified research institute. The Tribunal held that the donee institute did not have valid approval u/s 35(1)(ii) after 31.03.2006 and had procured donations on the basis of forged documents, rendering the assessee's claim impermissible in law. Relying on its earlier decision in a comparable case and the adverse findings of the Revenue, ITAT upheld the AO's action and quashed the order of CIT(A) which had granted relief to the assessee.
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