Programme production and copyright assignment can be separately taxed when the agreement shows distinct production activity on behalf of the broadcast...
Transshipment permission for courier import goods granted subject to customs supervision, bond compliance, sealing, escort and destination acknowledgm...
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ITAT allowed the taxpayer's claim for deduction of expenditure incurred in an abandoned project, recognizing that the project abandonment was due to reasons beyond the assessee's control. The tribunal held that the written-off expenses under 'work in progress' were commercially justified and not subject to tax authority scrutiny. The tribunal directed the Assessing Officer to delete the disallowance in both the section 143(1) intimation and section 143(3) assessment order, effectively permitting the expenditure deduction based on the commercial reasonableness of the assessee's decision.
ITAT allowed the taxpayer's claim for deduction of expenditure incurred in an abandoned project, recognizing that the project abandonment was due to reasons beyond the assessee's control. The tribunal held that the written-off expenses under 'work in progress' were commercially justified and not subject to tax authority scrutiny. The tribunal directed the Assessing Officer to delete the disallowance in both the section 143(1) intimation and section 143(3) assessment order, effectively permitting the expenditure deduction based on the commercial reasonableness of the assessee's decision.
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