Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
BOT road development expenditure was required to be amortised over the actual remaining concession period, because the proposed extension to 10/07/2024 was never notified and the concession effectively ended on 26/10/2013 after the accepted toll extension. The AO was directed to recompute amortization with 26/10/2013 as the terminal date and allow the resulting deduction as business expenditure under the CBDT circular. For prior years' depreciation, the Tribunal said the circular contemplated reducing earlier claims from the initial cost before amortization, so no separate addition for excess depreciation could stand, subject to verification of that adjustment. Penalty for inaccurate particulars was deleted because the quantum addition no longer survived and the depreciation-versus-amortization issue was debatable.
BOT road development expenditure was required to be amortised over the actual remaining concession period, because the proposed extension to 10/07/2024 was never notified and the concession effectively ended on 26/10/2013 after the accepted toll extension. The AO was directed to recompute amortization with 26/10/2013 as the terminal date and allow the resulting deduction as business expenditure under the CBDT circular. For prior years' depreciation, the Tribunal said the circular contemplated reducing earlier claims from the initial cost before amortization, so no separate addition for excess depreciation could stand, subject to verification of that adjustment. Penalty for inaccurate particulars was deleted because the quantum addition no longer survived and the depreciation-versus-amortization issue was debatable.
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