Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Section 263 revision turns on the distinction between lack of enquiry and inadequate enquiry. The Tribunal held that revision was justified where the AO had not specifically verified reversal of provision for onerous contract, but any tax on the reversal depends on whether the original provision was earlier allowed, to avoid double taxation; the matter was remitted for factual verification. For bad debts, the Tribunal held that a written-off debt satisfies section 36(1)(vii) and that revisional jurisdiction could not be used to demand further proof of irrecoverability. It also accepted evidence of buy-back tax payment and remitted Ind AS 116 lease adjustment claims for fresh examination under the Act independently of accounting standards.
Section 263 revision turns on the distinction between lack of enquiry and inadequate enquiry. The Tribunal held that revision was justified where the AO had not specifically verified reversal of provision for onerous contract, but any tax on the reversal depends on whether the original provision was earlier allowed, to avoid double taxation; the matter was remitted for factual verification. For bad debts, the Tribunal held that a written-off debt satisfies section 36(1)(vii) and that revisional jurisdiction could not be used to demand further proof of irrecoverability. It also accepted evidence of buy-back tax payment and remitted Ind AS 116 lease adjustment claims for fresh examination under the Act independently of accounting standards.
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