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...
The Central Board of Direct Taxes issues a corrigendum to its letter dated 21.10.2025 concerning the C&AG Performance Audit Report No. 1 of 2019 on assessment of assessees in the entertainment sector, specifically regarding verification of expenses. The corrigendum clarifies that paragraph 2.1 of the earlier letter incorrectly referred to section 32D of the Income-tax Act, 1961, and should instead refer to section 35D. It instructs that pre-operative expenses incurred before commencement of business by entertainment sector assessees be examined with reference to actual commencement and allowed for amortisation under section 35D. The correction is issued with competent authority approval.
The Central Board of Direct Taxes issues a corrigendum to its letter dated 21.10.2025 concerning the C&AG Performance Audit Report No. 1 of 2019 on assessment of assessees in the entertainment sector, specifically regarding verification of expenses. The corrigendum clarifies that paragraph 2.1 of the earlier letter incorrectly referred to section 32D of the Income-tax Act, 1961, and should instead refer to section 35D. It instructs that pre-operative expenses incurred before commencement of business by entertainment sector assessees be examined with reference to actual commencement and allowed for amortisation under section 35D. The correction is issued with competent authority approval.
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