SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation allowance was deemed infructuous based on precedent from Karnataka HC regarding lessor's treatment of lease payments. The tribunal affirmed that finance lease rental payments qualify as allowable business expenditure rather than capital expenditure as initially classified by AO. The ruling maintains consistency with established judicial interpretation of lease payment characterization under Income Tax Act provisions. Revenue's appeal dismissed, confirming assessee's entitlement to claim rental payments as deductible business expense.
ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation allowance was deemed infructuous based on precedent from Karnataka HC regarding lessor's treatment of lease payments. The tribunal affirmed that finance lease rental payments qualify as allowable business expenditure rather than capital expenditure as initially classified by AO. The ruling maintains consistency with established judicial interpretation of lease payment characterization under Income Tax Act provisions. Revenue's appeal dismissed, confirming assessee's entitlement to claim rental payments as deductible business expense.
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