Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
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Prior period expenses are deductible only if the liability crystallised in the relevant year and is supported by evidence; the Tribunal remitted the disallowance for fresh verification. ESOP discount was treated as employee remuneration incurred wholly and exclusively for business, so the deduction was allowed and the disallowance deleted. The demerger loss and depreciation claim failed because the statutory conditions for the resulting company were construed strictly and the required share issuance was not satisfied, so carry forward and set-off were denied. Deferred income recognised under the assessee's consistent accounting method was upheld, as earlier orders in its own case remained binding.
Prior period expenses are deductible only if the liability crystallised in the relevant year and is supported by evidence; the Tribunal remitted the disallowance for fresh verification. ESOP discount was treated as employee remuneration incurred wholly and exclusively for business, so the deduction was allowed and the disallowance deleted. The demerger loss and depreciation claim failed because the statutory conditions for the resulting company were construed strictly and the required share issuance was not satisfied, so carry forward and set-off were denied. Deferred income recognised under the assessee's consistent accounting method was upheld, as earlier orders in its own case remained binding.
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