Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
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The ITAT set aside ex parte appellate orders dismissing the assessee's appeals as time barred, holding that delay should not defeat consideration where the challenge goes to the jurisdiction to levy late fee under section 234E for the period before 1 June 2015. Following the Kerala High Court decision in Jiji Varghese, the Tribunal held that the first appellate authority ought to have condoned the delay and heard the appeals on merits. It did not decide the validity of the levy itself and remanded the matters for fresh adjudication after giving the assessee a reasonable opportunity of hearing.
The ITAT set aside ex parte appellate orders dismissing the assessee's appeals as time barred, holding that delay should not defeat consideration where the challenge goes to the jurisdiction to levy late fee under section 234E for the period before 1 June 2015. Following the Kerala High Court decision in Jiji Varghese, the Tribunal held that the first appellate authority ought to have condoned the delay and heard the appeals on merits. It did not decide the validity of the levy itself and remanded the matters for fresh adjudication after giving the assessee a reasonable opportunity of hearing.
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