![Order passed Referring to Section 144(C)(1) of Income Tax Act to be Construed only as Draft Assessment Order: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Madras-High-Court-Madras-HC-Draft-Assessment-Order-significance-Tax-assessment-legal-update-Taxscan.jpg "Order passed Referring to Section 144(C)(1) of Income Tax Act to be Construed only as Draft Assessment Order: Madras HC [Read Order]")
Order passed Referring to Section 144(C)(1) of Income Tax Act to be Construed only as Draft Assessment Order: Madras HC [Read Order]
In a significant ruling the Madras High Court observed that the order passed referring to Section 144(C)(1) of the Income Tax Act, 1961 is to be...
![Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Revenue-Expenditure-Revenue-Expenditure-on-Shelved-Projects-ITAT-Decision-on-Project-Expenditure-Taxscan.jpg "Expenditure incurred on Shelved Projects are Revenue Expenditure: ITAT deletes Disallowance [Read Order]")
![Relief to Amazon India: Delivery Cost and Warranty Expenses not part of AMP Expenditure, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Amazon-India-Amazon-Amazon-Delivery-Costs-and-Warranty-Expenses-AMP-Expenditure-ITAT-Bangalore-Taxscan.jpg "Relief to Amazon India: Delivery Cost and Warranty Expenses not part of AMP Expenditure, rules ITAT [Read Order]")
![Warranty Expenses and Delivery Cost are Activities Post-Sales, not AMP Expenditure For Amazon India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Bangalore-ITAT-Ruling-on-Amazon-India-Expenses-Delivery-Costs-Amazon-ITAT-Ruling-Tax-Implications-of-Amazon-Warranty-Expenses-Taxscan.jpg "Warranty Expenses and Delivery Cost are Activities Post-Sales, not AMP Expenditure For Amazon India: ITAT [Read Order]")
ITAT directs to Recompute ALP by including the Excluded Comparable Chosen for Transfer Pricing [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) comprising Amit Shukla ( Judicial Member ) and Padmavathy S. ( Accountant Member ) directed to recompute the Arm Length Price (...
![ITAT directs to Recompute ALP by including the Excluded Comparable Chosen for Transfer Pricing [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Delhi-Arm-Length-Price-transfer-pricing-Comparable-companies-TAXSCAN.jpg "ITAT directs to Recompute ALP by including the Excluded Comparable Chosen for Transfer Pricing [Read Order]")
Functional Dissimilarity between Companies and Assessee: Delhi HC upholds Order of ITAT Directing Exclusion of Comparables [Read Order]
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal (ITAT) directing the exclusion of comparables as there was functional dissimilarity between the companies and the assessee. ...
![Functional Dissimilarity between Companies and Assessee: Delhi HC upholds Order of ITAT Directing Exclusion of Comparables [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Functional-Dissimilarity-Companies-Assessee-Delhi-HC-ITAT-Exclusion-of-Comparables-taxscan.jpg "Functional Dissimilarity between Companies and Assessee: Delhi HC upholds Order of ITAT Directing Exclusion of Comparables [Read Order]")
No Material basis for Discrediting Debit Notes: Delhi HC upholds ITAT order on deletion of Disallowance of Engineering Fees [Read Order]
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal (ITAT) on deletion of disallowance of engineering fees as there was no material basis for discrediting debit notes. By...
![No Material basis for Discrediting Debit Notes: Delhi HC upholds ITAT order on deletion of Disallowance of Engineering Fees [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Material-Basis-Discrediting-Debit-Notes-Delhi-HC-ITAT-Deletion-of-Disallowance-Engineering-Fees-taxscan.jpg "No Material basis for Discrediting Debit Notes: Delhi HC upholds ITAT order on deletion of Disallowance of Engineering Fees [Read Order]")
![AMP Expenses incurred not Amounts to International Transaction: Delhi HC upholds ITATs order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/AMP-Expenses-Incurred-Amounts-to-International-Transaction-Delhi-HC-ITATS-Order-TAXSCAN.jpg "AMP Expenses incurred not Amounts to International Transaction: Delhi HC upholds ITATs order [Read Order]")
TNMM is Most Appropriate Method in absence of details of independent contracts/functions/ services rendered to different AEs and unrelated parties: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the transactional net margin method (TNMM) is the most appropriate method in the absence of details of independent...
![TNMM is Most Appropriate Method in absence of details of independent contracts/functions/ services rendered to different AEs and unrelated parties: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/TNMM-Most-Appropriate-Method-TNMM-is-Most-Appropriate-Method-in-absence-of-details-of-independent-contracts-ITAT-taxscan.jpg "TNMM is Most Appropriate Method in absence of details of independent contracts/functions/ services rendered to different AEs and unrelated parties: ITAT [Read Order]")
Issuance of DIN number is Insignificant and Superfluous, when it is not mentioned on the Body of Communication: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that simultaneous issue of the DIN number is insignificant and superfluous exercise, in the absence of mentioning the DIN number on the...
![Issuance of DIN number is Insignificant and Superfluous, when it is not mentioned on the Body of Communication: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/issuance-DIN-insignificant-communication-ITAT-director-identification-number-din-number.jpg "Issuance of DIN number is Insignificant and Superfluous, when it is not mentioned on the Body of Communication: ITAT [Read Order]")