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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Prosecution for failure to remit tax deducted at source within the prescribed time under ss. 276B read with 278AA of the Income-tax Act was sought to be quashed on the ground of "reasonable cause." The court below accepted that the delay was not wilful, was attributable to staff unavailability due to maternity leave, and was fully cured by subsequent payment and continued timely compliance thereafter; on this conduct, continuation of criminal proceedings was held unwarranted and the complaint was quashed. The challenge to that quashing order was rejected as no ground for interference under Art. 136 was made out, and the petition was dismissed - SC
Prosecution for failure to remit tax deducted at source within the prescribed time under ss. 276B read with 278AA of the Income-tax Act was sought to be quashed on the ground of "reasonable cause." The court below accepted that the delay was not wilful, was attributable to staff unavailability due to maternity leave, and was fully cured by subsequent payment and continued timely compliance thereafter; on this conduct, continuation of criminal proceedings was held unwarranted and the complaint was quashed. The challenge to that quashing order was rejected as no ground for interference under Art. 136 was made out, and the petition was dismissed - SC
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