Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Page of 4805
Press 'Enter' after typing page number.
2701 to 2720 of 96100 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Coffee hulling and curing charges incurred to process raw coffee beans into marketable coffee were held allowable as business expenditure under section 37(1) because the assessee produced ledger extracts, invoices and bank statements, and the work formed part of its regular business activity; the disallowance as unexplained expenditure was therefore deleted. The Tribunal also rejected the ad hoc 25% disallowance of agricultural expenses, noting supporting bills, vouchers, bank statements, cash details and regular books for diesel, fertiliser, pesticide, labour, transportation and related interest costs, with no specific unsupported item identified by the Revenue. The appeal was partly allowed and both disallowances were deleted.
Coffee hulling and curing charges incurred to process raw coffee beans into marketable coffee were held allowable as business expenditure under section 37(1) because the assessee produced ledger extracts, invoices and bank statements, and the work formed part of its regular business activity; the disallowance as unexplained expenditure was therefore deleted. The Tribunal also rejected the ad hoc 25% disallowance of agricultural expenses, noting supporting bills, vouchers, bank statements, cash details and regular books for diesel, fertiliser, pesticide, labour, transportation and related interest costs, with no specific unsupported item identified by the Revenue. The appeal was partly allowed and both disallowances were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
