Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Addition on account of lower gross profit in post survey period ...


Taxpayer's Appeal Denied: No Justification for Lower Profit Margins in Related Entity Sales Post-Survey Period.

April 9, 2016

Case Laws     Income Tax     AT

Addition on account of lower gross profit in post survey period on sale made to sister concern confirmed since no commercial expediency was demonstrated - AT

View Source

 


 

You may also like:

  1. Undisclosed income - gross profit margin on unaccounted sales - It is quite possible that the assessee was able to generate more profit post search period depending upon...

  2. Clarification on various doubts related to treatment of secondary or post-sales discounts under GST.

  3. Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus...

  4. TP Adjustment - Naturally when sales price consists of price for warranty and After sales services, which are promised at the time of sales, naturally corresponding...

  5. ITAT modified profit margins for undisclosed income in hotel/restaurant and real estate businesses following search and seizure action. For hotel/restaurant operations,...

  6. Estimation of gross profit - assessee had given a reasonable explanation for the lower gross profit shown by it during the relevant previous year - addition for lower...

  7. Transfer pricing adjustment - adjustment in respect of international transaction relating to export of manufactured IC engines by considering the difference in the gross...

  8. TP Adjustment - 'arranged' pricing' - TNMM method or CUP method - the superiority of any particular method to arrive at the ALP is ruled out.The TNMM (Transactional Net...

  9. Assessment u/s 144 -profit margins, could be varied and disturbed only if the profit margins of other assesses engaged in similar business are higher

  10. Valuation of imported goods - Related person - Merely because there were transfer of funds in India amongst three importers will not make them related persons in terms...

  11. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  12. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  13. Estimation of income - bogus purchases - case of bogus bills arranged from the entities and diamonds purchased from somewhere else at a lower cost - The ITAT noted the...

  14. Reporting Entity - PMLA - List is getting bulky - More categories related to business included

  15. Substantial profits were generated by trading entities based on advance receipt of non-public information regarding stock recommendations from guest experts appearing on...

 

Quick Updates:Latest Updates