Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
The Delhi High Court upheld the order of the Tribunal on the following issues: 1. Transfer Pricing adjustment on Advertising, Marketing and Promotional (AMP) expenditure was rejected in the absence of evidence establishing an arrangement or concerted action between the Indian entity and its Associated Enterprise. 2. Disallowance u/s 14A was not warranted as there was no exempt income earned in the concerned Assessment Years. 3. Disallowance of brand building expenditure u/s 37 was not justified. As per Section 48 of the Trade Marks Act, the assessee, being a licensee, was entitled to claim such expenditure as business expenditure, although it may have enhanced the brand of the overseas owner. 4. Disallowance based on seized material pertaining to preceding years was not merited in the absence of incriminating material for the concerned Assessment Years, following the Supreme Court's decision in Sinhgad Technical Education Society.
The Delhi High Court upheld the order of the Tribunal on the following issues: 1. Transfer Pricing adjustment on Advertising, Marketing and Promotional (AMP) expenditure was rejected in the absence of evidence establishing an arrangement or concerted action between the Indian entity and its Associated Enterprise. 2. Disallowance u/s 14A was not warranted as there was no exempt income earned in the concerned Assessment Years. 3. Disallowance of brand building expenditure u/s 37 was not justified. As per Section 48 of the Trade Marks Act, the assessee, being a licensee, was entitled to claim such expenditure as business expenditure, although it may have enhanced the brand of the overseas owner. 4. Disallowance based on seized material pertaining to preceding years was not merited in the absence of incriminating material for the concerned Assessment Years, following the Supreme Court's decision in Sinhgad Technical Education Society.
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