Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Whether advertising expenditure is revenue or capital: applying statutory principles and binding precedent, the court rejected estoppel against the statute and held that characterization in books does not override tax law; relying on Supreme Court authority and Gujarat HC precedent, such advertisement outlays are not capitalizable but are revenue expenditures deductible under the Act. Consequence: the assessment treating the expenditure as capital was set aside and the appeal allowing deduction was allowed. - HC
Whether advertising expenditure is revenue or capital: applying statutory principles and binding precedent, the court rejected estoppel against the statute and held that characterization in books does not override tax law; relying on Supreme Court authority and Gujarat HC precedent, such advertisement outlays are not capitalizable but are revenue expenditures deductible under the Act. Consequence: the assessment treating the expenditure as capital was set aside and the appeal allowing deduction was allowed. - HC
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