Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Expenditure incurred to implement a contractual closure of a business undertaking is not deductible under section 37(1), as that provision requires expenditure wholly and exclusively incurred for carrying on business rather than bringing an undertaking to an end. Common management of the closed and continuing divisions does not satisfy this requirement; the closure-payment disallowance was therefore restored. Foreign exchange fluctuation on imports must be determined from actual liabilities under individual transactions where book figures are available. As the fluctuation on capital goods had been capitalised and the claimed loss related to spares and consumables, with no contrary Revenue evidence, the estimated disallowance was unsustainable and its deletion was upheld.
Expenditure incurred to implement a contractual closure of a business undertaking is not deductible under section 37(1), as that provision requires expenditure wholly and exclusively incurred for carrying on business rather than bringing an undertaking to an end. Common management of the closed and continuing divisions does not satisfy this requirement; the closure-payment disallowance was therefore restored. Foreign exchange fluctuation on imports must be determined from actual liabilities under individual transactions where book figures are available. As the fluctuation on capital goods had been capitalised and the claimed loss related to spares and consumables, with no contrary Revenue evidence, the estimated disallowance was unsustainable and its deletion was upheld.
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