Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
ITAT affirmed that the assessee is entitled to deductions under both s.36(1)(vii) and s.36(1)(viia)(c), holding the proviso to s.36(1)(vii) merely caps bad-debt write-offs by the credit balance in provisions to prevent double deduction; factual review showed no excess or duplication, so CIT(A)'s allowance was upheld. On s.14A, the Tribunal directed the AO to confine disallowance to the assessee's suo-motu pro-rata allocation to investment-department costs, rejecting the AO's challenge absent specific contrary accounting findings. Deductions under s.36(1)(viii) were held independent of s.36(1)(viia)(c) computations. The amortised rent issue was remitted to the AO for reconsideration under s.158A upon Form-8 compliance.
ITAT affirmed that the assessee is entitled to deductions under both s.36(1)(vii) and s.36(1)(viia)(c), holding the proviso to s.36(1)(vii) merely caps bad-debt write-offs by the credit balance in provisions to prevent double deduction; factual review showed no excess or duplication, so CIT(A)'s allowance was upheld. On s.14A, the Tribunal directed the AO to confine disallowance to the assessee's suo-motu pro-rata allocation to investment-department costs, rejecting the AO's challenge absent specific contrary accounting findings. Deductions under s.36(1)(viii) were held independent of s.36(1)(viia)(c) computations. The amortised rent issue was remitted to the AO for reconsideration under s.158A upon Form-8 compliance.
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