Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The principal issue was whether AMP expenditure forms part of operating costs for ALP determination in related-party transactions; holding that the TP study wrongly excluded AMP from operating cost, the tribunal remands the ALP determination to AO/TPO directing AMP be treated within operating cost and re-evaluated accordingly. On interest for delayed receivables the tribunal holds such interest is a separate international transaction requiring separate benchmarking; credit period limited to 30 days per contract and the benchmark rate directed as LIBOR + 200 bps (replacing LIBOR + 400 bps). Seminar/convention expenses must be verified against the Supreme Court test and, if compliant, allowed. Alleged double disallowance under s.43B is remitted to AO to delete if already disallowed in computation. - ITAT
The principal issue was whether AMP expenditure forms part of operating costs for ALP determination in related-party transactions; holding that the TP study wrongly excluded AMP from operating cost, the tribunal remands the ALP determination to AO/TPO directing AMP be treated within operating cost and re-evaluated accordingly. On interest for delayed receivables the tribunal holds such interest is a separate international transaction requiring separate benchmarking; credit period limited to 30 days per contract and the benchmark rate directed as LIBOR + 200 bps (replacing LIBOR + 400 bps). Seminar/convention expenses must be verified against the Supreme Court test and, if compliant, allowed. Alleged double disallowance under s.43B is remitted to AO to delete if already disallowed in computation. - ITAT
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