Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in Britannia Industries Ltd. The expenditure on provision of food, beverages, and employee salaries for providing these at the rest/guest house was considered "entertainment expenditure" u/s 37(2A) and Explanation 2, and hence not deductible. However, 50% of the expenses incurred in organizing a conference for dealers were allowed as business expenditure. Expenses incurred in buying presentation articles were held as allowable deductions, being considered advertisement expenses.
The expenses incurred towards municipal taxes, maintenance, and repairs of guest-house could not be allowed as a deduction, following the Supreme Court's decision in Britannia Industries Ltd. The expenditure on provision of food, beverages, and employee salaries for providing these at the rest/guest house was considered "entertainment expenditure" u/s 37(2A) and Explanation 2, and hence not deductible. However, 50% of the expenses incurred in organizing a conference for dealers were allowed as business expenditure. Expenses incurred in buying presentation articles were held as allowable deductions, being considered advertisement expenses.
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