Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Depreciation on franchise rights was allowed on the full actual cost of the intangible asset, because the franchise licence was acquired when the agreement was executed and annual instalments did not limit the asset's cost; any later adjustment would affect subsequent years. Cash payments for daily allowances were disallowed under section 40A(3) because the relevant test is the actual payment to a person in a day, and no Rule 6DD exception was proved. Business research and routed remuneration claims failed for want of proof of actual services and business nexus, while the ad hoc percentage disallowance of web support expenses was deleted for lack of evidentiary basis. Security expenses were allowed on commercial expediency, and several reimbursement, TDS credit and brought-forward loss issues were remanded for verification.
Depreciation on franchise rights was allowed on the full actual cost of the intangible asset, because the franchise licence was acquired when the agreement was executed and annual instalments did not limit the asset's cost; any later adjustment would affect subsequent years. Cash payments for daily allowances were disallowed under section 40A(3) because the relevant test is the actual payment to a person in a day, and no Rule 6DD exception was proved. Business research and routed remuneration claims failed for want of proof of actual services and business nexus, while the ad hoc percentage disallowance of web support expenses was deleted for lack of evidentiary basis. Security expenses were allowed on commercial expediency, and several reimbursement, TDS credit and brought-forward loss issues were remanded for verification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
