2018 (9) TMI 2005 - SCH - Income Tax

TP Adjustment - (AMP) expenditure as an international transaction u/s.92B - compensation to be received by the assessee from its Associated Enterprise (AE) for creating marketing intangibles and promoting the brand name of its AE, specifically when the assessee company was promoting marketing intangibles of its AE though the brand belongs to the AE and not to the assessee - Disallowance of traveling and conveyance expenses - non deduction of tds - company neither specified the nature and purpose of expenses nor any supporting evidence was filed to justify the claim - Disallowance of miscellaneous expenses - claim neither verifiable as no supporting evidence was available and also the same could not be established to have been incurred wholly and exclusively for the purpose of business - HELD THAT - Delay condoned. Leave granted.

Summary

The Supreme Court of India in 2018 (9) TMI 2005 - SC Order, with judges Mr. Abhay Manohar Sapre and Mr. S. Abdul Nazeer, condoned delay, granted leave, and tagged the case with C.A. No. 3953 of 2017 and other connected matters. Petitioner(s) represented by Mr. P.S. Narasimha, Mr. Guru Krishna Kumar, Mr. P.K. Mullick, Mr. H. Raghavendra Rao, and Mrs. Anil Katiyar.