Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT adjudicated two key tax issues: (1) repairs and maintenance expenditure disallowance was restricted to 10% after reviewing submitted ledger accounts, upholding CIT(A)'s partial disallowance; (2) royalty expenses were deemed revenue expenditure under Section 37, rejecting Revenue's capital expenditure classification. The tribunal referenced precedential case law from Delhi HC, specifically EKL Appliances and Lumax Industries, which established year-to-year license/technical knowledge payments as revenue expenditure. Considering consistent treatment in prior assessment years and absence of ongoing benefit post-agreement termination, ITAT ruled comprehensively in assessee's favor, allowing full royalty expense deduction.
ITAT adjudicated two key tax issues: (1) repairs and maintenance expenditure disallowance was restricted to 10% after reviewing submitted ledger accounts, upholding CIT(A)'s partial disallowance; (2) royalty expenses were deemed revenue expenditure under Section 37, rejecting Revenue's capital expenditure classification. The tribunal referenced precedential case law from Delhi HC, specifically EKL Appliances and Lumax Industries, which established year-to-year license/technical knowledge payments as revenue expenditure. Considering consistent treatment in prior assessment years and absence of ongoing benefit post-agreement termination, ITAT ruled comprehensively in assessee's favor, allowing full royalty expense deduction.
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