Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
HC held that the investment write-off claimed as a tax deduction was valid. The investment was made in furtherance of the company's memorandum of association objectives and was deemed unrecoverable. Unlike previous precedents involving capital compensation, this case involved a direct business investment. Given the identical factual and legal circumstances in a prior assessment year where the deduction was previously allowed, the court ruled in favor of the assessee, overturning the revenue department's disallowance and affirming the tax deduction's legitimacy.
HC held that the investment write-off claimed as a tax deduction was valid. The investment was made in furtherance of the company's memorandum of association objectives and was deemed unrecoverable. Unlike previous precedents involving capital compensation, this case involved a direct business investment. Given the identical factual and legal circumstances in a prior assessment year where the deduction was previously allowed, the court ruled in favor of the assessee, overturning the revenue department's disallowance and affirming the tax deduction's legitimacy.
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