High Court of Karnataka Dismisses Revenue's Appeal in Transfer Pricing Case — Assets Received from AE Not Taxable Under Section 28(iv) of Income Tax Act. The court held that assets received from Associated Enterprise without consideration are not taxable as perquisite under Section 28(iv) as they are not in the nature of 'benefit' arising from business or profession.
28 Jul 2025The Revenue (Pr. Commissioner of Income Tax and Asst. Commissioner of Income Tax) filed an appeal under Section 260A of the Income Tax Act, 1961 again...
