Transfer pricing adjustments for software services, corporate guarantees, expense characterisation and foreign tax credit affirmed under arm's length ...
Scientific Research approval for Sikshya O Anusandhan under section 35(1)(ii) granted subject to reporting, certification, and compliance requirements...
Return filed in response to a notice issued in search-related proceedings substitutes the original return filed earlier, and the assessee may lodge fresh or additional claims in abated assessments arising from search and seizure proceedings. The legal effect is that statutory provisions ordinarily applicable to returns filed under normal assessment processes apply equally to returns in search-related proceedings, permitting reopening of claims and consideration of new claims in abated years. An appellate authority's dismissal of appeals as infructuous was found erroneous, requiring fresh adjudication on admissibility and sustainability of the additional claims and remand for decision on merits.
Return filed in response to a notice issued in search-related proceedings substitutes the original return filed earlier, and the assessee may lodge fresh or additional claims in abated assessments arising from search and seizure proceedings. The legal effect is that statutory provisions ordinarily applicable to returns filed under normal assessment processes apply equally to returns in search-related proceedings, permitting reopening of claims and consideration of new claims in abated years. An appellate authority's dismissal of appeals as infructuous was found erroneous, requiring fresh adjudication on admissibility and sustainability of the additional claims and remand for decision on merits.
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