Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Stakeholder-list modification permits liquidators to update entries on new information, subject to notifying the Adjudicating Authority within prescri...
ITAT adjudicated multiple tax-related issues for the assessee. The tribunal allowed the appeal regarding R&D expenditure under section 35(2AB), finding that prior to 2016 amendment, no specific procedural methodology existed for certifying expenditure, thus the Assessing Officer erroneously disallowed the weighted deduction. The tribunal also deleted disallowance under section 40A(2)(b) regarding commission payments, noting identical facts from the preceding year. Regarding depreciation, ITAT held electrical installations are part of plant and machinery, thereby allowing 15% depreciation instead of 10% as originally proposed by the AO. The assessee's appeals were substantially allowed across all contested issues.
ITAT adjudicated multiple tax-related issues for the assessee. The tribunal allowed the appeal regarding R&D expenditure under section 35(2AB), finding that prior to 2016 amendment, no specific procedural methodology existed for certifying expenditure, thus the Assessing Officer erroneously disallowed the weighted deduction. The tribunal also deleted disallowance under section 40A(2)(b) regarding commission payments, noting identical facts from the preceding year. Regarding depreciation, ITAT held electrical installations are part of plant and machinery, thereby allowing 15% depreciation instead of 10% as originally proposed by the AO. The assessee's appeals were substantially allowed across all contested issues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
