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...
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...
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Revision under section 263 is unavailable where the Assessing Officer has examined a claimed exemption, considered supporting explanations and adopted a plausible view; a different view of the revisional authority does not establish an order that is both erroneous and prejudicial to the Revenue. Interest awarded under section 28 of the Land Acquisition Act for delayed payment of enhanced compensation on compulsorily acquired agricultural land was treated by the majority as an accretion to compensation rather than income from other sources. Accordingly, the revisionary order was quashed and the receipt was not assessed under that head.
Revision under section 263 is unavailable where the Assessing Officer has examined a claimed exemption, considered supporting explanations and adopted a plausible view; a different view of the revisional authority does not establish an order that is both erroneous and prejudicial to the Revenue. Interest awarded under section 28 of the Land Acquisition Act for delayed payment of enhanced compensation on compulsorily acquired agricultural land was treated by the majority as an accretion to compensation rather than income from other sources. Accordingly, the revisionary order was quashed and the receipt was not assessed under that head.
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