Service-tax exemptions for railway and Government works restrict de novo reassessment, while unsupported limitation and consultation failures invalida...
Carried-forward loss from scientific research expenditure remains examinable in the year in which set-off is claimed, and its earlier computation does not conclusively determine its character or eligibility. Where concessional corporate taxation is elected and the additional weighted deduction is forgone, the underlying actual scientific research expenditure may still be considered under otherwise applicable provisions. Restrictions on specified incentives and exemptions do not, without an express prohibition, deny actual expenditure independently allowable under law. Allowance of the corresponding carried-forward loss requires verification of the underlying expenditure and consequential recomputation, without granting the additional weighted deduction.
Carried-forward loss from scientific research expenditure remains examinable in the year in which set-off is claimed, and its earlier computation does not conclusively determine its character or eligibility. Where concessional corporate taxation is elected and the additional weighted deduction is forgone, the underlying actual scientific research expenditure may still be considered under otherwise applicable provisions. Restrictions on specified incentives and exemptions do not, without an express prohibition, deny actual expenditure independently allowable under law. Allowance of the corresponding carried-forward loss requires verification of the underlying expenditure and consequential recomputation, without granting the additional weighted deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4931 
