Head Office cost allocation requires prescribed transfer-pricing methods; treaty ceilings bar surcharge and cess, while duplicate taxation is excluded...
Cost-to-cost reimbursement of seconded employees is not service consideration; transfer-pricing markup was deleted and amalgamation amortisation allow...
Crystallisation of liability supports prior-period expense deduction, while functionally distinct divisions require separate transfer-pricing benchmar...
Functional comparability under TNMM requires transaction-specific FAR analysis before benchmarking business-support services provided to associated en...
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...
Tax payable is material to prosecution for failure to furnish a return under Section 276CC because the statutory exception depends on the assessee's tax liability. Where no assessment or other tax determination exists, the complaint does not allege tax payable, and a refund claim remains unaddressed, prosecution is misconceived. Wilful failure is also essential: the statutory presumption of culpable mental state may be rebutted through evidence showing no intent to evade tax. Evidence that property was jointly acquired, loan-financed, and that sale consideration was received by the spouse rebutted wilfulness. The convictions and sentences were set aside, and the assessee was acquitted.
Tax payable is material to prosecution for failure to furnish a return under Section 276CC because the statutory exception depends on the assessee's tax liability. Where no assessment or other tax determination exists, the complaint does not allege tax payable, and a refund claim remains unaddressed, prosecution is misconceived. Wilful failure is also essential: the statutory presumption of culpable mental state may be rebutted through evidence showing no intent to evade tax. Evidence that property was jointly acquired, loan-financed, and that sale consideration was received by the spouse rebutted wilfulness. The convictions and sentences were set aside, and the assessee was acquitted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
