PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
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