Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Deduction under s.10AA was denied on processing on the ground that the audit report in Form 56F was not filed along with the return within the prescribed time. It was held that Form 56F was filed within the extended due date notified by CBDT, and therefore could not be treated as belated for denying the s.10AA claim; the first appellate authority correctly allowed the deduction. It was further held that, for the relevant AY, s.10AA benefit is not contingent on filing the return within the due date under s.139(1), and a return filed under s.139(4) does not bar the claim. The disallowance was set aside and relief to the assessee sustained. - ITAT
Deduction under s.10AA was denied on processing on the ground that the audit report in Form 56F was not filed along with the return within the prescribed time. It was held that Form 56F was filed within the extended due date notified by CBDT, and therefore could not be treated as belated for denying the s.10AA claim; the first appellate authority correctly allowed the deduction. It was further held that, for the relevant AY, s.10AA benefit is not contingent on filing the return within the due date under s.139(1), and a return filed under s.139(4) does not bar the claim. The disallowance was set aside and relief to the assessee sustained. - ITAT
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