Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Bad debt deduction is allowable where the assessee has written off the dues in its accounts as irrecoverable; under the amended law, further proof that the debt had actually become irrecoverable is not required, and the Tribunal deleted the disallowance by following T.R.F. Ltd. Estimated business expense disallowance based on fixed percentages of transportation and vehicle-related es, without comparable material or a reasoned basis, was held arbitrary and unsustainable; the 10% addition was deleted. The assessee's appeal was allowed.
Bad debt deduction is allowable where the assessee has written off the dues in its accounts as irrecoverable; under the amended law, further proof that the debt had actually become irrecoverable is not required, and the Tribunal deleted the disallowance by following T.R.F. Ltd. Estimated business expense disallowance based on fixed percentages of transportation and vehicle-related es, without comparable material or a reasoned basis, was held arbitrary and unsustainable; the 10% addition was deleted. The assessee's appeal was allowed.
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