Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Penalty under section 271(1)(c) could not survive once the related interest disallowance under section 36(1)(iii) had already been deleted in the quantum appeal, because the basis for the penalty no longer existed. On the subsidy issue, the Tribunal treated the capital-versus-revenue characterisation of the grant as a debatable question and held that such a disputed classification did not establish concealment or furnishing of inaccurate particulars. The penalty was therefore deleted in full.
Penalty under section 271(1)(c) could not survive once the related interest disallowance under section 36(1)(iii) had already been deleted in the quantum appeal, because the basis for the penalty no longer existed. On the subsidy issue, the Tribunal treated the capital-versus-revenue characterisation of the grant as a debatable question and held that such a disputed classification did not establish concealment or furnishing of inaccurate particulars. The penalty was therefore deleted in full.
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