Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Transfer pricing adjustment for intra-group steam transfers was deleted after the appellate tribunal found the TPO/AO disregarded binding DRP directions and precedent; arm's length re determination was not sustained. The claim for enhanced deduction on steam transferred from an eligible captive unit to non eligible units was remitted to the Assessing Officer for verification and decision with an opportunity to be heard. Receipts from Renewable Energy Certificates were held to be capital receipts and excluded from book profits for MAT purposes. A suo motu disallowance under the rule for exempt income was deleted where no exempt income was earned.
Transfer pricing adjustment for intra-group steam transfers was deleted after the appellate tribunal found the TPO/AO disregarded binding DRP directions and precedent; arm's length re determination was not sustained. The claim for enhanced deduction on steam transferred from an eligible captive unit to non eligible units was remitted to the Assessing Officer for verification and decision with an opportunity to be heard. Receipts from Renewable Energy Certificates were held to be capital receipts and excluded from book profits for MAT purposes. A suo motu disallowance under the rule for exempt income was deleted where no exempt income was earned.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
