Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Charitable tree plantation and maintenance for environmental preservation treated as "charitable activity", exempt from GST under Notification 12/2017...
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.
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