Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Routine administrative and operational expenses were held allowable where the record contained no specific adverse finding that the expenditure was false or non-genuine. Disallowance based only on minimal business activity or an allegation that the entities were shell concerns was treated as perverse on the facts. The accepted genuineness of statutory and compliance-related expenses also supported the existence of normal operational costs, so the sustained disallowance of salary, rent, travelling, conveyance, telephone and similar business expenses was deleted. Interest under the consequential challenge was left to follow the main result.
Routine administrative and operational expenses were held allowable where the record contained no specific adverse finding that the expenditure was false or non-genuine. Disallowance based only on minimal business activity or an allegation that the entities were shell concerns was treated as perverse on the facts. The accepted genuineness of statutory and compliance-related expenses also supported the existence of normal operational costs, so the sustained disallowance of salary, rent, travelling, conveyance, telephone and similar business expenses was deleted. Interest under the consequential challenge was left to follow the main result.
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