Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Addition of contingent liability, which do not constitute expenditure and not allowable u/s 37 (1) - The assessee Board does not have any domain or control on this issue. It is the Ministry of Petroleum & Natural Gases which advises the Board about the payment of royalty to the respective State Governments which is evident from the letters produced by the Assessee Board during the Assessment Proceedings and the appellate proceedings. Thus, the CIT(A) has rightly deleted the said addition - AT
Addition of contingent liability, which do not constitute expenditure and not allowable u/s 37 (1) - The assessee Board does not have any domain or control on this issue. It is the Ministry of Petroleum & Natural Gases which advises the Board about the payment of royalty to the respective State Governments which is evident from the letters produced by the Assessee Board during the Assessment Proceedings and the appellate proceedings. Thus, the CIT(A) has rightly deleted the said addition - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
