International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
ITAT partly allowed the assessee's appeal for statistical purposes. On disallowance u/s 43B relating to bonus and employee payments, ITAT held that if no deduction was claimed in A.Y. 2022-23 and the liability was actually paid in the year under appeal, the AO shall allow the deduction on payment basis after verification. Regarding the addition towards provisions written back, ITAT directed the AO to verify whether the corresponding amount had already been added to income and taxed in A.Y. 2022-23. If so, no further addition shall be made in the year under appeal.
ITAT partly allowed the assessee's appeal for statistical purposes. On disallowance u/s 43B relating to bonus and employee payments, ITAT held that if no deduction was claimed in A.Y. 2022-23 and the liability was actually paid in the year under appeal, the AO shall allow the deduction on payment basis after verification. Regarding the addition towards provisions written back, ITAT directed the AO to verify whether the corresponding amount had already been added to income and taxed in A.Y. 2022-23. If so, no further addition shall be made in the year under appeal.
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