Income Tax – Deductibility of commission paid to foreign buyers/agents and deducted from export invoice value under section 37 of the Income Tax Act, 1961 - Respondent was engaged in the business of export of textile items and recorded sale proceeds in the books of accounts as net export turnover af...
Income Tax – Deduction under section 80IA, Computation of profit of eligible business, Notional carry forward of losses and unabsorbed depreciation already set off against other income in earlier years - The Appellant, mainly dealing in shares and securities, purchased Wind Mills and started produci...
Income Tax - Transfer Pricing, Associated enterprises, Section 92A(1) and 92A(2) – The Appellant sold technology to foreign entities which were wholly owned step-down subsidiaries of a company in which a person held more than twenty-six per cent shares, and the same person also held more than twenty...
Income Tax – Validity of reference to the Transfer Pricing Officer under section 92CA where the international transaction was disclosed in Form 3CEB – The case of the Appellant, engaged in development and leasing of warehouses, was selected for scrutiny on non-transfer pricing risk parameters. The A...
Income Tax - Income from Undisclosed Sources, Share application money and share premium received from subscriber companies, Additions based on retracted statements – The Appellant, a private closely held company, received share application money and share premium from domestic subscriber companies,...