Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Goodwill amortisation was held to be an extraordinary/non operating expense for PLI computation under the TNMM and must be treated as non operating with corresponding adjustment to the PLI when computing ALP; the matter was remanded to AO/TPO only for verification whether depreciation was claimed and for giving the assessee opportunity of hearing. The Tribunal found the lower authorities misconstrued an earlier direction, directed AO/TPO to adjust PLI accordingly, and held initiation of penalty proceedings as premature and dismissed them.
Goodwill amortisation was held to be an extraordinary/non operating expense for PLI computation under the TNMM and must be treated as non operating with corresponding adjustment to the PLI when computing ALP; the matter was remanded to AO/TPO only for verification whether depreciation was claimed and for giving the assessee opportunity of hearing. The Tribunal found the lower authorities misconstrued an earlier direction, directed AO/TPO to adjust PLI accordingly, and held initiation of penalty proceedings as premature and dismissed them.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
