Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
The ITAT Ahmedabad ruled on various tax issues. It upheld that Foreign Exchange Fluctuation Gain is capital in nature. Deduction u/s 10B was denied as sales consideration wasn't received timely. MAT computation didn't require adding back provision for bad debts. Leave encashment deduction was disallowed u/s 43B. Disallowance u/s 14A r.w.r. 8D was confirmed based on partnership firm investments. TP Adjustment for Corporate Guarantee was upheld. Weighted deduction u/s 35(2AB) was allowed as DSIR certification wasn't mandatory for in-house R&D expenses. The assessee succeeded in its appeal.
The ITAT Ahmedabad ruled on various tax issues. It upheld that Foreign Exchange Fluctuation Gain is capital in nature. Deduction u/s 10B was denied as sales consideration wasn't received timely. MAT computation didn't require adding back provision for bad debts. Leave encashment deduction was disallowed u/s 43B. Disallowance u/s 14A r.w.r. 8D was confirmed based on partnership firm investments. TP Adjustment for Corporate Guarantee was upheld. Weighted deduction u/s 35(2AB) was allowed as DSIR certification wasn't mandatory for in-house R&D expenses. The assessee succeeded in its appeal.
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