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 assessee's contribution to the Compensatory Afforestation Fund (CAF) is a revenue expenditure, not capital expenditure. This issue is settled, as the Bombay High Court in Dr. Prafulla R. Hede's case accepted that CAF contribution is revenue expenditure. The Supreme Court dismissed the Revenue's Special Leave Petition against Dr. Prafulla R. Hede's case, upholding the High Court's decision. Consequently, no substantial question of law arises regarding the allowability of CAF contribution as a revenue expense.
The assessee's contribution to the Compensatory Afforestation Fund (CAF) is a revenue expenditure, not capital expenditure. This issue is settled, as the Bombay High Court in Dr. Prafulla R. Hede's case accepted that CAF contribution is revenue expenditure. The Supreme Court dismissed the Revenue's Special Leave Petition against Dr. Prafulla R. Hede's case, upholding the High Court's decision. Consequently, no substantial question of law arises regarding the allowability of CAF contribution as a revenue expense.
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