Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
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.
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