Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
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Club membership and subscription expenditure is deductible where its business purpose and nexus are established; an ad hoc disallowance requires identification of particular personal or non-business payments, resulting in deletion of the club-expense disallowance. Where own funds exceed exempt-income investments and borrowings serve specified business purposes, investments are presumed funded from own funds, eliminating interest disallowance under section 14A. Administrative disallowance must have a rational nexus to, and cannot exceed, exempt income. Internal handover, capitalisation and deployment records can establish that machinery was put to use, supporting depreciation and additional depreciation. Electrical installations integral to manufacturing machinery qualify as plant and machinery for additional depreciation. Both appeals were partly allowed.
Club membership and subscription expenditure is deductible where its business purpose and nexus are established; an ad hoc disallowance requires identification of particular personal or non-business payments, resulting in deletion of the club-expense disallowance. Where own funds exceed exempt-income investments and borrowings serve specified business purposes, investments are presumed funded from own funds, eliminating interest disallowance under section 14A. Administrative disallowance must have a rational nexus to, and cannot exceed, exempt income. Internal handover, capitalisation and deployment records can establish that machinery was put to use, supporting depreciation and additional depreciation. Electrical installations integral to manufacturing machinery qualify as plant and machinery for additional depreciation. Both appeals were partly allowed.
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