Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
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ITAT Ahmedabad held that disallowance of interest u/s. 36(1)(iii) was unjustified as the assessee had substantial interest-free funds. Addition u/s. 145A for excise duty on closing stock was deleted based on Supreme Court decisions. Disallowance u/s. 14A r.w.r. 8D for exempt income was upheld as indirect expenses were involved. The disallowance made by the Assessing Officer was approved by the Ld.CIT(A).
ITAT Ahmedabad held that disallowance of interest u/s. 36(1)(iii) was unjustified as the assessee had substantial interest-free funds. Addition u/s. 145A for excise duty on closing stock was deleted based on Supreme Court decisions. Disallowance u/s. 14A r.w.r. 8D for exempt income was upheld as indirect expenses were involved. The disallowance made by the Assessing Officer was approved by the Ld.CIT(A).
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