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...
Exemption under section 11 was sustained because the assessee's letting of an auditorium was held to be merely incidental to its dominant charitable objects of education and medical relief, undertaken to augment funds. The Tribunal followed its decision in the assessee's own earlier year on identical facts and found that the activity did not amount to carrying on business, so the proviso to section 2(15) was not attracted. The Commissioner (Appeals)'s grant of relief under section 11 therefore required no interference, and the exemption was upheld for both assessment years.
Exemption under section 11 was sustained because the assessee's letting of an auditorium was held to be merely incidental to its dominant charitable objects of education and medical relief, undertaken to augment funds. The Tribunal followed its decision in the assessee's own earlier year on identical facts and found that the activity did not amount to carrying on business, so the proviso to section 2(15) was not attracted. The Commissioner (Appeals)'s grant of relief under section 11 therefore required no interference, and the exemption was upheld for both assessment years.
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