https://www.taxtmi.com/caselaws?id=407470 The Tribunal allowed the revenue's appeal in part, upholding the inclusion of customs duty in transfer pricing adjustment but ruling in favor of the assessee regarding the taxability of share premium received under Section 56(1) of the Income Tax Act. The Tribunal held that the share premium constituted a capital receipt and was not taxable under Section 56(1), ultimately dismissing the revenue's arguments on this issue. Grounds 3 and 4 raised by the Revenue were deemed general and did not require specific adjudication. en-us Tue, 27 Apr 2021 00:00:00 +0530 Wed, 12 May 2021 08:29:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407470 The Tribunal allowed the revenue's appeal in part, upholding the inclusion of customs duty in transfer pricing adjustment but ruling in favor of the assessee regarding the taxability of share premium received under Section 56(1) of the Income Tax Act. The Tribunal held that the share premium constituted a capital receipt and was not taxable under Section 56(1), ultimately dismissing the revenue's arguments on this issue. Grounds 3 and 4 raised by the Revenue were deemed general and did not require specific adjudication. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407470