Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
ITAT held that CSR payments, though disallowed as business expenditure u/s 37(1), may still qualify for deduction u/s 80G when computing total taxable income, subject to statutory conditions, and that denying such deduction would amount to impermissible double disallowance. The issue of quantum and eligibility u/s 80G was remanded to AO for verification. On short-term capital loss from building, ITAT held that allowability depends on whether the sold asset was the sole asset in the relevant block u/s 50, and remanded the matter to AO for factual verification. Deletion by CIT(A) of addition for alleged excess 24KT gold stock was upheld, and Revenue's appeal was dismissed.
ITAT held that CSR payments, though disallowed as business expenditure u/s 37(1), may still qualify for deduction u/s 80G when computing total taxable income, subject to statutory conditions, and that denying such deduction would amount to impermissible double disallowance. The issue of quantum and eligibility u/s 80G was remanded to AO for verification. On short-term capital loss from building, ITAT held that allowability depends on whether the sold asset was the sole asset in the relevant block u/s 50, and remanded the matter to AO for factual verification. Deletion by CIT(A) of addition for alleged excess 24KT gold stock was upheld, and Revenue's appeal was dismissed.
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