Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
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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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