Tuesday, April 30, 2019

AO couldn't raise the issue of determination of ALP at appellate stage for which no reference was made to TPO earlier

IT/ILT : If at appellate stage department would be permitted to rake up issue relating to determination of arm's length price of advertisement and publicity expenses, it will virtually result in re-opening of assessment which is prohibited under section 92CA(2C)

from www.taxmann.com Latest Case Laws http://bit.ly/2LcZqja

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...