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...
Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's categorization of the relaunch expenses as capital expenditure. It recognized these expenses as revenue in nature, incurred during the ordinary course of business for rebranding and promotional activities. The tribunal referenced several precedents where similar expenses were treated as revenue expenses, thereby allowing the appeal on this point.
Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's categorization of the relaunch expenses as capital expenditure. It recognized these expenses as revenue in nature, incurred during the ordinary course of business for rebranding and promotional activities. The tribunal referenced several precedents where similar expenses were treated as revenue expenses, thereby allowing the appeal on this point.
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