Transfer Pricing Officer Archives

Assessee not ‘eligible’ under S. 144-C Income Tax Act, if no income variation made by Transfer Pricing Officer: Bombay HC

In the present case, there was no variation in the petitioner’s income by the order of the Transfer Pricing Officer. The petitioner contended that since no income variation was made, there was no occasion for assessing officer to pass any draft assessment order and serve it to petitioner.

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT allows Vodafone’s claim of depreciation on goodwill acquired pursuant to slump sale acquisition of Call Centre Business from VEGL

ITAT noted that Parliament had taken due note that the Supreme Court had held that the goodwill arising on business reorganization i.e. amalgamation, slump sales, demerger etc. is a depreciable intangible asset under Section 32 of the Act.