Monday, August 17, 2020

No requirement of withholding tax while making payment of reimbursement of exp. incurred by AE outside India

TRANSFER PRICING : Where in respect of purchase of raw material from AE, TPO made certain addition to assessee's ALP by applying TNMM, in view of fact that assessee had not given full data in support of its contention that ALP was to be determined on basis of CUP method, impugned addition was to be deleted and, matter was to be remanded back for disposal afresh

from www.taxmann.com Latest Case Laws https://ift.tt/3g3ZQ5F

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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...