Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Mobile-phone electronic evidence failed to establish customs undervaluation, while duty survived on non-authentic origin certificates without importer...
Automotive radio classification treats integrated infotainment features as supplementary, placing complete and qualifying unassembled units under the ...
Separate corporate personality prevents directors from being personally liable for company deposits without a guarantee or independent legal undertaki...
Additional evidence before the Tribunal may be filed under Rule 18(4) of the Income Tax Appellate Tribunal Rules, 1963 through a separate paper book supported by an application explaining the reasons. The High Court upheld admission of records retrieved after loss, damage or soiling, particularly because the Assessing Officer had incorrectly recorded that no material was produced. The Tribunal's findings on unexplained cash credits and trading liabilities were based on confirmations, transaction details, tax-deduction certificates, books of account and bank records. As reasoned factual findings disclosed no perversity, no substantial question of law arose and the Revenue's appeal was dismissed.
Additional evidence before the Tribunal may be filed under Rule 18(4) of the Income Tax Appellate Tribunal Rules, 1963 through a separate paper book supported by an application explaining the reasons. The High Court upheld admission of records retrieved after loss, damage or soiling, particularly because the Assessing Officer had incorrectly recorded that no material was produced. The Tribunal's findings on unexplained cash credits and trading liabilities were based on confirmations, transaction details, tax-deduction certificates, books of account and bank records. As reasoned factual findings disclosed no perversity, no substantial question of law arose and the Revenue's appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
