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...
Under the block-of-assets method, a commercially used flat included in a continuing commercial depreciation block loses its separate identity for income-tax computation. Section 50 permits short-term capital gain only where sale consideration exceeds the aggregate written down value of the relevant block, or where every asset in that block is transferred and the block ceases to exist. Recreating a separate residential block and a notional written down value for the flat on sale is inconsistent with its accepted commercial classification. Where other commercial-block assets remain and opening written down value exceeds sale consideration, no short-term capital gain arises and the related addition is unsustainable.
Under the block-of-assets method, a commercially used flat included in a continuing commercial depreciation block loses its separate identity for income-tax computation. Section 50 permits short-term capital gain only where sale consideration exceeds the aggregate written down value of the relevant block, or where every asset in that block is transferred and the block ceases to exist. Recreating a separate residential block and a notional written down value for the flat on sale is inconsistent with its accepted commercial classification. Where other commercial-block assets remain and opening written down value exceeds sale consideration, no short-term capital gain arises and the related addition is unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4908 
