Internal TNMM couldn't be rejected just because value of transaction with non-AE was insignificant

IT/ILT : Where assessee had undertaken transactions with both AEs and non-AEs, and it had not only maintained segmental details of such transactions, but had also undertaken comparative analysis in its TP study, internal TNMM had to be adopted as most appropriat method for determining ALP

Govt. authorizes 4,412 PNB branches to receive subscription under PPF and Senior Citizen Saving Sche

IT : Public Provident Fund Scheme, 1968 and Senior Citizens Savings Scheme Rules, 2004 – Notified Branches of Punjab National Bank to Receive, with Immediate Effect, Subscriptions under Said Schemes

Govt. notifies rules for recruitment in departmental canteens

IT/INDIAN ACTS & RULES : Income-Tax Department, Non-Statutory Departmental Canteens (Group 'C' Posts) Recruitment Rules, 2015

No extended period due to issuance of subsequent notices if dept. was aware of all facts while issui

Excise & Customs : When department was aware of all facts while issuing initial three notices and said three notices had been dropped on merits subsequently, fourth notice cannot invoke extended period to raise demand

Govt. constitutes two new regional benches of CESTAT at Chandigarh and Hyderabad

EXCISE : Constitution of Cestat Bench at Chandigarh

Rajeev Kher appointed as member of Competition Appellate Tribunal

COMPETITION ACT : Section 53C, Read With Section 53F of the Competition Act, 2002 – Appellate Tribunal – Composition of - Notified Member

No additions on nursing home alleging non-disclosure of receipt from patients without support of sei

IT : Where pursuant to search proceedings, Assessing Officer made addition to assessee's income on ground that in nursing home run by assessee, treatment was given to various patients and amount received form them was not reflected in books of account, since said conclusion was not supported by seized material, impugned addition was to be set aside

TPO couldn't make addition by considering current year data if revenue had used multiple years data

IT/ILT : TPO could not make addition to assessee's ALP for rendering content related services to its AE by using only current year data at time of selection of comparables when revenue itself had adopted multiple years data in preceding years and there was no change in circumstances during assessment year in question