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...
Assessing Officer's suo motu computation of net profit based solely on a survey statement without rejecting books or affording explanation was held arbitrary and the addition deleted. Alleged deemed sales of four parking spaces lacked contemporaneous stock records; Tribunal remitted the matter for fresh verification and afforded the assessee a hearing. Interest on unsecured loans capitalised as part of Work in Progress for a real estate developer was treated as business expenditure (acquisition/holding of land as inventory) and the AO's disallowance of such capitalised interest was reversed.
Assessing Officer's suo motu computation of net profit based solely on a survey statement without rejecting books or affording explanation was held arbitrary and the addition deleted. Alleged deemed sales of four parking spaces lacked contemporaneous stock records; Tribunal remitted the matter for fresh verification and afforded the assessee a hearing. Interest on unsecured loans capitalised as part of Work in Progress for a real estate developer was treated as business expenditure (acquisition/holding of land as inventory) and the AO's disallowance of such capitalised interest was reversed.
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