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Income Tax - Highlights / Catch Notes

Home Highlights December 2021 Year 2021 This

Addition on account of diversion of income / profit - there is ...


Court Evaluates Income Diversion Claims; Evidence Supports 10% Markup on Management Fees, No Sham Detected.

December 25, 2021

Case Laws     Income Tax     AT

Addition on account of diversion of income / profit - there is no evidence to prove that this was some kind of sham arrangement of profits along with markup and secondly, catena of documents and evidences were filed that the said entity is working there and for which mark-up of 10% of management fees is given, therefore, it cannot be held that all those documents are bogus or sham without any material information on record. - AT

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