Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
On the characterisation of gains from sale of shares, the appellate authority accepted documentary evidence showing acquisition in tranches with verifiable dates and costs, and, after a remand report found no discrepancy, held the declared cost and holding period to be correct; the Revenue's plea that the evidence was not before the AO was rejected, and the relief allowing long-term capital loss/confirming short-term capital gain computation was sustained. On salary excess recovered under the Companies Act pursuant to Central Government directions, the recovery was held not to constitute taxable income, following binding precedent, and the addition was deleted. On addition under s.69A for alleged unexplained investment in a US property, the Revenue failed to link the investment to the assessee where family funds and corporate remittance were evidenced; deletion was upheld - ITAT
On the characterisation of gains from sale of shares, the appellate authority accepted documentary evidence showing acquisition in tranches with verifiable dates and costs, and, after a remand report found no discrepancy, held the declared cost and holding period to be correct; the Revenue's plea that the evidence was not before the AO was rejected, and the relief allowing long-term capital loss/confirming short-term capital gain computation was sustained. On salary excess recovered under the Companies Act pursuant to Central Government directions, the recovery was held not to constitute taxable income, following binding precedent, and the addition was deleted. On addition under s.69A for alleged unexplained investment in a US property, the Revenue failed to link the investment to the assessee where family funds and corporate remittance were evidenced; deletion was upheld - ITAT
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TaxTMI 
TaxTMI 
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