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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Revenue's appeal before the ITAT was dismissed in entirety. The Tribunal upheld CIT(A)'s deletion of various additions made by AO, including disallowance of donations, advertisement expenditure, royalty payments, depreciation on branding and curriculum development, and ad hoc disallowances on accommodation, HR, mess, and other service expenses. ITAT held that AO had proceeded on arbitrary, ad hoc assumptions without comparable data, adverse material, or specific defects in books or evidence. The hostel receipts were treated as integral to educational activities, not as a separate business, and separate books were duly maintained. As the assessee's registration under section 12AA stood restored, it was to be assessed as a charitable institution entitled to exemption under sections 11 and 12, not as an AOP.
Revenue's appeal before the ITAT was dismissed in entirety. The Tribunal upheld CIT(A)'s deletion of various additions made by AO, including disallowance of donations, advertisement expenditure, royalty payments, depreciation on branding and curriculum development, and ad hoc disallowances on accommodation, HR, mess, and other service expenses. ITAT held that AO had proceeded on arbitrary, ad hoc assumptions without comparable data, adverse material, or specific defects in books or evidence. The hostel receipts were treated as integral to educational activities, not as a separate business, and separate books were duly maintained. As the assessee's registration under section 12AA stood restored, it was to be assessed as a charitable institution entitled to exemption under sections 11 and 12, not as an AOP.
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