Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of time, there is no demand for loan that they have been parked with the banks as fixed deposit - Assessee is entitled for deduction of interest income earned from deposits made by it with banks which has arisen out of deposits received from its members pursuant to conduct of business of providing credit facilities to its members. - AT
Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of time, there is no demand for loan that they have been parked with the banks as fixed deposit - Assessee is entitled for deduction of interest income earned from deposits made by it with banks which has arisen out of deposits received from its members pursuant to conduct of business of providing credit facilities to its members. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
