Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Page of 4803
Press 'Enter' after typing page number.
761 to 780 of 96046 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT Hyderabad upheld the estimation of income and profit, dismissing Revenue's appeal. The profit was modified to 11.5%. Deduction u/s 80-IA(4) was disallowed based on precedent. Disallowance of interest u/s 14A r.w.r 8D and section 36(1)(iii) was rejected due to business exigency. Interest earned on FDs was not taxed as it was already reduced from finance charges. Cash payments u/s 40A(3) were justified due to lack of banking facilities at remote sites. Business promotion expenses were allowed as connected to business promotion, given income estimation. The findings of CIT(A) were upheld, and Revenue's appeal was dismissed.
The ITAT Hyderabad upheld the estimation of income and profit, dismissing Revenue's appeal. The profit was modified to 11.5%. Deduction u/s 80-IA(4) was disallowed based on precedent. Disallowance of interest u/s 14A r.w.r 8D and section 36(1)(iii) was rejected due to business exigency. Interest earned on FDs was not taxed as it was already reduced from finance charges. Cash payments u/s 40A(3) were justified due to lack of banking facilities at remote sites. Business promotion expenses were allowed as connected to business promotion, given income estimation. The findings of CIT(A) were upheld, and Revenue's appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
