WHETHER EXPENSES DISALLOWED BY AO CAN BE CLAIMED AS NON-OPERATING IN NATURE FOR OPERATING MARGIN COMPUTATION

Rule 10B of Income Tax Rules provides methodology for computation of ALP.  Under TNMM, ‘net profit’ is used as benchmark for ALP computation.  During the assessment, the AO may disallow expenditure incurred by the taxpayer on various grounds like they are personal in nature, they are bogus expenditure, etc.  The disallowance of the AO would […]

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top