Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
For private discretionary trusts whose income is chargeable at the maximum marginal rate, surcharge on income tax is to be computed by reference to the slab rates prescribed in the Finance Act for the relevant year. Applying the Special Bench ruling in Aradhya Jain Trust, the ITAT held that the assessee correctly claimed surcharge at 15% and that the lower appellate authority erred in sustaining surcharge at 25%. The order of the CIT(A) was set aside and the assessee's claim was accepted.
For private discretionary trusts whose income is chargeable at the maximum marginal rate, surcharge on income tax is to be computed by reference to the slab rates prescribed in the Finance Act for the relevant year. Applying the Special Bench ruling in Aradhya Jain Trust, the ITAT held that the assessee correctly claimed surcharge at 15% and that the lower appellate authority erred in sustaining surcharge at 25%. The order of the CIT(A) was set aside and the assessee's claim was accepted.
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