https://www.taxtmi.com/caselaws?id=802540 An assessing officer cannot deviate from a draft assessment without giving the taxpayer an opportunity to be heard. The return filed by the taxpayer required to furnish a transfer-pricing report met the later applicable deadline under section 139 of the Income-tax Act, 1961, permitting set-off of current and brought-forward business losses in accordance with law. Verification of the transfer-pricing adjustment for parent-entity funds requires examination of the claimed accounting error, a certified bank statement and confirmations from the parent and auditor. For laptop reimbursement outstanding during the relevant year, a corresponding bank payment entry would not be available; confirmation of the supplies and reimbursement claim from the parent entity is required. en-us Wed, 14 Oct 2026 00:00:00 +0530 Sat, 07 Nov 2026 08:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802540 An assessing officer cannot deviate from a draft assessment without giving the taxpayer an opportunity to be heard. The return filed by the taxpayer required to furnish a transfer-pricing report met the later applicable deadline under section 139 of the Income-tax Act, 1961, permitting set-off of current and brought-forward business losses in accordance with law. Verification of the transfer-pricing adjustment for parent-entity funds requires examination of the claimed accounting error, a certified bank statement and confirmations from the parent and auditor. For laptop reimbursement outstanding during the relevant year, a corresponding bank payment entry would not be available; confirmation of the supplies and reimbursement claim from the parent entity is required. Case-Laws Income Tax Wed, 14 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802540