Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Interest under section 234C cannot be levied for advance tax instalments falling due before a newly set up business begins operations, because income from that source was not yet capable of estimation on those dates. Reading section 234C with the proviso to section 3 and clause (c) of the proviso to section 234C(1), the Tribunal held that the assessee's business, which commenced on 17.10.2019, created no obligation to anticipate or pay business advance tax for the June and September instalments. The earlier instalments were excluded, and the interest was directed to be recomputed only for the period after commencement of business.
Interest under section 234C cannot be levied for advance tax instalments falling due before a newly set up business begins operations, because income from that source was not yet capable of estimation on those dates. Reading section 234C with the proviso to section 3 and clause (c) of the proviso to section 234C(1), the Tribunal held that the assessee's business, which commenced on 17.10.2019, created no obligation to anticipate or pay business advance tax for the June and September instalments. The earlier instalments were excluded, and the interest was directed to be recomputed only for the period after commencement of business.
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