Tax Authorities Can't Alter Arm's Length Agreements Without Collusion Allegations u/s 271(1)(c) of Income Tax Act.

Tax Authorities Can't Alter Arm's Length Agreements Without Collusion Allegations u/s 271(1)(c) of Income Tax Act. https://www.taxtmi.com/highlights?id=30848 Penalty levied u/s.271(1)(c) - Valuation of Goodwill - the I.T. Act does not clothe the taxing authorities with any power or jurisdiction to rewrite the terms of the Agreement arrived at between the parties with each other at arms length and with no allegation of any collusion between them. - HC en-us Thu, 18 Aug 2016 08:20:03 +0530 Thu, 18 Aug 2016 08:20:03 +0530 TaxTMI RSS Generator Tax Authorities Can't Alter Arm's Length Agreements Without Collusion Allegations u/s 271(1)(c) of Income Tax Act. https://www.taxtmi.com/highlights?id=30848 Penalty levied u/s.271(1)(c) - Valuation of Goodwill - the I.T. Act does not clothe the taxing authorities with any power or jurisdiction to rewrite the terms of the Agreement arrived at between the parties with each other at arms length and with no allegation of any collusion between them. - HC Highlights Income Tax Thu, 18 Aug 2016 08:20:03 +0530 https://www.taxtmi.com/highlights?id=30848