Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Transfer pricing adjustment on imports from associated enterprise was deleted because the taxpayer had substantiated comparable uncontrolled prices with supporting bills, and the same CUP/RPM approach had been accepted in the immediately preceding remand proceedings and in subsequent years; applying the consistency principle, the deletion of the adjustment for manufacturing, trading, and services segments was upheld, dismissing the Revenue's ground. Ad hoc disallowance of foreign travel was restricted since the taxpayer had not been specifically called upon to furnish details; a 10% disallowance of total foreign travel expenditure was sustained, partly allowing the Revenue's ground. Disallowance under section 40(a)(i) for alleged non-deduction under section 195 on allocated expenses paid abroad was deleted as the AO failed to identify year-wise accrual and the items were otherwise justified; the Revenue's challenge failed - ITAT
Transfer pricing adjustment on imports from associated enterprise was deleted because the taxpayer had substantiated comparable uncontrolled prices with supporting bills, and the same CUP/RPM approach had been accepted in the immediately preceding remand proceedings and in subsequent years; applying the consistency principle, the deletion of the adjustment for manufacturing, trading, and services segments was upheld, dismissing the Revenue's ground. Ad hoc disallowance of foreign travel was restricted since the taxpayer had not been specifically called upon to furnish details; a 10% disallowance of total foreign travel expenditure was sustained, partly allowing the Revenue's ground. Disallowance under section 40(a)(i) for alleged non-deduction under section 195 on allocated expenses paid abroad was deleted as the AO failed to identify year-wise accrual and the items were otherwise justified; the Revenue's challenge failed - ITAT
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