Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Section 217(3) required the board to furnish full explanations only for genuine reservations, qualifications or adverse remarks in the auditor's report, so a generic comment that internal audit needed strengthening did not attract penal liability under Section 217(5). The complaint therefore disclosed no prima facie offence. Prosecution was also time-barred because there was no prior sanction requirement, no valid basis to exclude time under Section 470(3) CrPC, and no condonation sought. The Magistrate's cognizance and summons were unsustainable because the record showed no application of mind before issuing process.
Section 217(3) required the board to furnish full explanations only for genuine reservations, qualifications or adverse remarks in the auditor's report, so a generic comment that internal audit needed strengthening did not attract penal liability under Section 217(5). The complaint therefore disclosed no prima facie offence. Prosecution was also time-barred because there was no prior sanction requirement, no valid basis to exclude time under Section 470(3) CrPC, and no condonation sought. The Magistrate's cognizance and summons were unsustainable because the record showed no application of mind before issuing process.
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