Case Law Details
Citation : ITA No. 925/Mum/06, Assessment Year: 2002- 03,
M/s Star lite Vs. DCIT
Court :ITAT Mumbai
It is mandatory for the assessee to follow one of the methods prescribed in Section 92C of the Income Tax Act, 1961 read with Rule 10B of the Income Tax Rules, 1962 and demonstrate that the international transactions entered with the associated enterprise are at arm’s length.
Tribunal Ruling: It is mandatory for the assessee to follow one of the methods prescribed in Section 92C of the Income Tax Act, 1961 read with Rule 10B of the Income Tax Rules, 1962 and demonstrate that the international transactions entered with the associated enterprise are at arm’s length. [M/s Star lite – I.T.A. No 925/Mum/2006]
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For mutual funds, is the limit for 1 transaction, aggregate of all transactions in a year in a AMC or aggregate of all transaction in a year in any one scheme of an AMC?
HI SIR
PLEASE TELL ME
IF PROPERTY VALUE IS > 30 LAKHS
& CIRCLE RATES IS 30 LAKHS
& TRANSACTION VALUE < 30 LAKHS
THEN IS IT MANDATORY TO FILE AIR ?
under which payment code i can paid online challan towards penalty towards AIR ?