Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
