S. 143(3) : Assessment-Income-Alleged suppression of purchases-Comparison of eleven months’ purchases with twelve months’ purchases-Wrong methodology-Addition deleted.[S.5]
S. 143(3) : Assessment-Income-Alleged suppression of purchases-Comparison of eleven months’ purchases with twelve months’ purchases-Wrong methodology-Addition deleted.[S.5]
S.143 (3): Assessment-Revised claim during assessment proceedings-Re-computation of deduction-Fresh revised return not necessary-Tribunal can entertain claim.[S. 10AA, 139, 254(1)]
S.115BBE: Tax on specified income-Determination of tax in certain cases-Unexplained money-Search conducted prior to amendment-Enhanced tax rate of 60% not applicable. [S. 69A, 132]
S. 115-O: Domestic companies-Tax on distributed profits-Dividend Distribution Tax-Dividend paid to non-resident shareholder-Rate prescribed under section 115-O applicable-Rate under DTAA not applicable to domestic company paying dividend distribution tax.
S. 92CA: Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Investment in equity shares of overseas subsidiary-Not an international transaction of loan-No notional interest could be charged. [S. 92B, 92C]
S. 92CA: Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Interest on unsecured compulsorily convertible debentures-Arm’s length rate accepted in earlier years-Revenue could not adopt a different view in absence of change in facts. [S.92C, 143, R. 10B]
S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Export commission paid to Associated Enterprise-Higher export profitability established-Transfer pricing adjustment deleted-Jurisdiction confined to determination of Arm’s Length Price-Commercial expediency of expenditure cannot be questioned-Model fee paid to Associated Enterprise allowable.[S.92CA]
S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Transfer of shares-Discounted Cash Flow (DCF) method-Transfer Pricing Officer cannot substitute projected figures with actual subsequent results. [S.56(2)(viib), 92B, 92CA, Rr. 10B, 11UA]
S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction Technical know-how fees-Transfer Pricing Officer cannot determine arm’s length price at Nil without applying prescribed method-Need-benefit test not permissible. [S. 92CA]
S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Liability and doubtful debts written back-Operating income-Foreign exchange fluctuation loss-Operating in nature-Technical know-how fees-Arm’s length price cannot be determined at Nil-Need-benefit test not permissible. [S.4, 5, 92CA]