Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Deductibility of expenditure for settlement of proceedings under...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds positions
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Deductibility of expenditure for settlement of proceedings under securities law: Tribunal applied CBDT Notification No.38/2025 to hold that settlement payments or penalties relating to contraventions under specified laws are not allowable as business expenditure under the Income Tax Act from AY 202526; however, because the assessment year before the Tribunal is AY 201718 the departmental proposition met no interference and the ground failed. Unexplained cash credits under the deeming provision: Tribunal found the lender's financials show genuine sharetrading revenue and no proximate connection to an entry operator, so the addition under unexplained cash credits was deleted; revenue's appeal dismissed.
Deductibility of expenditure for settlement of proceedings under securities law: Tribunal applied CBDT Notification No.38/2025 to hold that settlement payments or penalties relating to contraventions under specified laws are not allowable as business expenditure under the Income Tax Act from AY 202526; however, because the assessment year before the Tribunal is AY 201718 the departmental proposition met no interference and the ground failed. Unexplained cash credits under the deeming provision: Tribunal found the lender's financials show genuine sharetrading revenue and no proximate connection to an entry operator, so the addition under unexplained cash credits was deleted; revenue's appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
