Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Interest subsidy - deemed as income u/s. 41(1) - mercantile system of accounting - the C.I.T. (A) rightly held that the provision of Sec.41(1) would be applicable when there is actual remission or cessation of liability and which was during the accounting year relevant to assessment year 2002-03 and not in the year under consideration. - The matter is entirely factual Revenue appeal dismissed - HC
Interest subsidy - deemed as income u/s. 41(1) - mercantile system of accounting - the C.I.T. (A) rightly held that the provision of Sec.41(1) would be applicable when there is actual remission or cessation of liability and which was during the accounting year relevant to assessment year 2002-03 and not in the year under consideration. - The matter is entirely factual Revenue appeal dismissed - HC
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