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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Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
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