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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Validity of reassessment initiation was challenged on the ground that the order under s.148A(3) and the consequent notice under s.148 were vague and non-speaking, merely referring to a search in the insurance sector without disclosing why income was believed to have escaped assessment. The court held that the s.148A(3) order did not record any reasons for rejecting the assessee's replies or explain the basis for proceeding, rendering it unsustainable; consequently, the s.148A(3) order and the s.148 notice were set aside and the matter was remanded to the AO to pass a fresh, reasoned order after considering the replies, with clarification that the assessee had also asserted incomplete information in the notices. - HC
Validity of reassessment initiation was challenged on the ground that the order under s.148A(3) and the consequent notice under s.148 were vague and non-speaking, merely referring to a search in the insurance sector without disclosing why income was believed to have escaped assessment. The court held that the s.148A(3) order did not record any reasons for rejecting the assessee's replies or explain the basis for proceeding, rendering it unsustainable; consequently, the s.148A(3) order and the s.148 notice were set aside and the matter was remanded to the AO to pass a fresh, reasoned order after considering the replies, with clarification that the assessee had also asserted incomplete information in the notices. - HC
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