Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
The ITAT held that disallowance of advertisement expenses lacked merit as the charges were reasonable. The 15% discount received by the agent did not impact the reasonableness of charges borne by the assessee. However, hoarding expenses lacked substantiation, requiring further verification. The matter was remanded to the AO for review. Similarly, addition on commission and brokerage expenses needed reevaluation with proper substantiation. The AO's disallowance of depreciation on fixed assets was overturned as the assessee was entitled to claim depreciation under section 32 of the Act.
The ITAT held that disallowance of advertisement expenses lacked merit as the charges were reasonable. The 15% discount received by the agent did not impact the reasonableness of charges borne by the assessee. However, hoarding expenses lacked substantiation, requiring further verification. The matter was remanded to the AO for review. Similarly, addition on commission and brokerage expenses needed reevaluation with proper substantiation. The AO's disallowance of depreciation on fixed assets was overturned as the assessee was entitled to claim depreciation under section 32 of the Act.
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