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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Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
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