Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Estimation of net profits - addition on account of enhancement of net profit as the assessee has shown drastically low net profit as compared to preceding previous years - The AO’s rejection of books of accounts was unfounded, lacking specific discrepancies. - The assessee justified the net profit decline with audited accounts showing increased financial costs and foreign exchange losses. - AT
Estimation of net profits - addition on account of enhancement of net profit as the assessee has shown drastically low net profit as compared to preceding previous years - The AO’s rejection of books of accounts was unfounded, lacking specific discrepancies. - The assessee justified the net profit decline with audited accounts showing increased financial costs and foreign exchange losses. - AT
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