Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Levy of penalty - debatable issue - As per AO assessee treated the revenue receipt of subsidy as capital receipt - As per High Court no error in the findings recorded by Tribunal while setting aside penalty - With the Supreme Court dismissing the Special Leave Petition (SLP) filed by the Revenue against the order, the decision of the lower courts stands affirmed.
Levy of penalty - debatable issue - As per AO assessee treated the revenue receipt of subsidy as capital receipt - As per High Court no error in the findings recorded by Tribunal while setting aside penalty - With the Supreme Court dismissing the Special Leave Petition (SLP) filed by the Revenue against the order, the decision of the lower courts stands affirmed.
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