Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
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Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
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