Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Delayed filing of Form 10IC was treated as a procedural lapse where the assessee had already exercised the option for the concessional tax regime under section 115BAA in the return of income and computed tax accordingly. The Tribunal viewed Form 10IC as a mode of intimating the option, not an additional substantive when eligibility and compliance with the provision were not in dispute. The matter was remanded to the Assessing Officer to verify the filed form and grant the concessional rate in accordance with law.
Delayed filing of Form 10IC was treated as a procedural lapse where the assessee had already exercised the option for the concessional tax regime under section 115BAA in the return of income and computed tax accordingly. The Tribunal viewed Form 10IC as a mode of intimating the option, not an additional substantive when eligibility and compliance with the provision were not in dispute. The matter was remanded to the Assessing Officer to verify the filed form and grant the concessional rate in accordance with law.
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