Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
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An APA covering the relevant year required the Arm's Length Price for international transactions to be reconsidered with reference to the APA terms, so the Assessing Officer was directed to rework the transfer pricing adjustment in accordance with law. The MAT book profit adjustment was also sent back because the assessment order did not discuss the addition and the assessee had not been given an opportunity of hearing; the officer was directed to reconsider the book profit computation after hearing the assessee and in light of the section 143(1) intimation. The interest and fee computation was remanded for verification of the extended due date, and interest under section 234B was held mandatory, subject to consequential recomputation after giving effect to the revised figures.
An APA covering the relevant year required the Arm's Length Price for international transactions to be reconsidered with reference to the APA terms, so the Assessing Officer was directed to rework the transfer pricing adjustment in accordance with law. The MAT book profit adjustment was also sent back because the assessment order did not discuss the addition and the assessee had not been given an opportunity of hearing; the officer was directed to reconsider the book profit computation after hearing the assessee and in light of the section 143(1) intimation. The interest and fee computation was remanded for verification of the extended due date, and interest under section 234B was held mandatory, subject to consequential recomputation after giving effect to the revised figures.
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