Home Highlights January 2018 Year 2018 This

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1. Income from house property - ALV u/s 23(1)(a) - In determining the reasonable rent, several factors have to be taken into consideration, such as, location of the...

2. Income from house property - ALV determination - these are the guiding factors for determining the annual rental value of the property and any deviation from the same is...

3. Unaccounted sale of Gajjak, Makhane and Namkeen - rejection of books of accounts - Shortage has been equated with undisclosed sales basely solely on yield ratio. In our...

4. Valuation - processed fabric - inclusion of the shrinkage factor - When the total quantum of the grey fabric received has been taken into account while determining the...

5. CE - electricity consumption is not the criteria to determine output level..... - AT

6. TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges - In the nature of interest or not - The transaction entered into by the assessee is with M/s SBI Global...

7. Determining the jurisdiction of appellate forum - jurisdiction of this Tribunal - The Tribunal refers to the legal precedent established in a Supreme Court case...

8. FMV determination - sale of office with common area - AO/DVO is directed to determine the fair market value by considering these common are as a positives factor while...

9. Valuation of the property - determining the fair market value (FMV) - Property which is otherwise residential as per the record cannot be treated as a commercial...

10. Adoption of Profit Level Indicator (PLI) of OP/TC to determine ALP - , in the absence of identification or segregation of capital employed with regard to AE's...

11. Tax liability of trust - the purpose of tax under the Act, the Assessing Officer may be in a position to find out the status of the beneficiaries of the First Level...

12. The annual retable value of the property must be determined based on the expected market rate of rent, not the actual rent received. The matter was restored to the...

13. TP Adjustment - TPO rejected the ‘entity-level’ benchmarking done by assessee, instead made ‘unit-level’ comparison i.e. PLI of each unit was compared with the PLI of...

14. Unexplained credit u/s 68 - Partially genuine - As per AO, an individual creditor is true up to 75% level and untrue up to 25% level, which is unheard practice because a...

15. TP adjustment in Distribution activity, described as ESAS - ALP and the consequential transfer pricing adjustment are contemplated only in respect of the international...