Tag Archives: IN THE ITAT RANCHI BENCH

Transfer Pricing Adjustments and Bona Fide Claims Do Not Attract Penalty Under Section 271(1)(c)

By | September 23, 2026
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Transfer Pricing Adjustments and Bona Fide Claims Do Not Attract Penalty Under Section 271(1)(c) Issue Whether penalty under Section 271(1)(c) for furnishing inaccurate particulars of income can be levied on transfer pricing adjustments, disallowance of leave encashment provision, and legal expenses on capital asset transfer when all relevant facts were fully disclosed and quantum additions… Read More »

Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt

By | August 20, 2026
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Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt Issue Whether transfer pricing adjustments for corporate guarantee fees and interest rates should be restricted based on precedents from the assessee’s own case. Whether an… Read More »

Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt

By | August 20, 2026
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Transfer Pricing Adjustments Restricted, Foreign Travel Disallowance Quashed, And Carbon Credit Sale Held Capital Receipt Issue Whether transfer pricing adjustments for corporate guarantee commission and loan interest rate should be restricted based on precedents set in the assessee’s own case. Whether an ad hoc disallowance of foreign travel expenses is sustainable when the assessee voluntarily… Read More »

PCIT Cannot Invoke Section 263 for Reverification When AO Throroughly Examined DVO Valuation and Property Sale

By | August 15, 2026
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PCIT Cannot Invoke Section 263 for Reverification When AO Throroughly Examined DVO Valuation and Property Sale Issue Whether the Principal Commissioner of Income Tax (PCIT) can validly exercise revisional powers under Section 263 to set aside an assessment order for reverification, when the Assessing Officer (AO) had already examined the sale of flats, called for… Read More »