Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Assessee lent money from borrowed funds, charging higher interest rate than paid, later lending from own funds. Total interest paid eligible for deduction, though assessee suo moto disallowed part. No further disallowance warranted by authorities. Maturity proceeds from keyman insurance policy exempt u/s 10(10D), without bifurcation, following precedent. Authorities erred in denying exemption. Decisions favored assessee on both issues.
Assessee lent money from borrowed funds, charging higher interest rate than paid, later lending from own funds. Total interest paid eligible for deduction, though assessee suo moto disallowed part. No further disallowance warranted by authorities. Maturity proceeds from keyman insurance policy exempt u/s 10(10D), without bifurcation, following precedent. Authorities erred in denying exemption. Decisions favored assessee on both issues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
