Saturday, August 8, 2020

Disallowance of Discounts/Rebate to Holding Company: ITAT directs to verify genuineness of Agreements/MOUs

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, in a case involving the disallowance of discounts or rebates to holding company, directed the Assessing Officer (AO) to examine the transactions in light of agreements/MOUs before coming to any conclusion. The appellant-company Bureau Veritas Consumer Products Services (India) Private Limited (BVCPS) is a wholly-owned subsidiary of […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3gH45Fo

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