Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Computation of deduction u/s 10AA - The Tribunal examined the details provided by the assessee regarding expenses incurred in foreign currency. It noted that the Assessing Officer had excluded these expenses without thorough examination. The Tribunal referred to a previous decision by the Madras High Court in a similar case and held that the order of the Commissioner of Income Tax (Appeals) was not justified in confirming the exclusion. It allowed the appeal on this ground.
Computation of deduction u/s 10AA - The Tribunal examined the details provided by the assessee regarding expenses incurred in foreign currency. It noted that the Assessing Officer had excluded these expenses without thorough examination. The Tribunal referred to a previous decision by the Madras High Court in a similar case and held that the order of the Commissioner of Income Tax (Appeals) was not justified in confirming the exclusion. It allowed the appeal on this ground.
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