Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Gifts from parents and near relatives were accepted as genuine where the recipient disclosed name, address, relationship, quantum and confirming PAN-linked declarations, and the addition was deleted for lack of enquiry or cogent rebuttal by the AO. Cash professional receipts were accepted where the assessee produced client names, income-tax return copies and student IDs for tuition, and the addition was deleted. Cash withdrawals shown in the partnership cashbook and admitted as withdrawals by the partnership were treated as personal withdrawals, not undisclosed income, and the corresponding addition was deleted.
Gifts from parents and near relatives were accepted as genuine where the recipient disclosed name, address, relationship, quantum and confirming PAN-linked declarations, and the addition was deleted for lack of enquiry or cogent rebuttal by the AO. Cash professional receipts were accepted where the assessee produced client names, income-tax return copies and student IDs for tuition, and the addition was deleted. Cash withdrawals shown in the partnership cashbook and admitted as withdrawals by the partnership were treated as personal withdrawals, not undisclosed income, and the corresponding addition was deleted.
Note: It is a system-generated summary and is for quick reference only.
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