Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Disallowance of employees' provident fund contribution was upheld following binding precedent; consequence: contribution remains disallowed for tax purposes. Provision for leave encashment computed actuarially was held to be an ascertained business liability and allowable as a deduction. Deduction under section 80G for CSR-linked donations was permitted where payments lacked quid pro quo, preventing double disallowance. Claims for DDT credit and interest were remitted to the Assessing Officer for factual verification and record scrutiny. Year end ad hoc expense provision reversed in a subsequent year was allowed as a deduction. Additions for short term capital gains and late deposited contributions were ordered verified and deleted if shown to be factually incorrect.
Disallowance of employees' provident fund contribution was upheld following binding precedent; consequence: contribution remains disallowed for tax purposes. Provision for leave encashment computed actuarially was held to be an ascertained business liability and allowable as a deduction. Deduction under section 80G for CSR-linked donations was permitted where payments lacked quid pro quo, preventing double disallowance. Claims for DDT credit and interest were remitted to the Assessing Officer for factual verification and record scrutiny. Year end ad hoc expense provision reversed in a subsequent year was allowed as a deduction. Additions for short term capital gains and late deposited contributions were ordered verified and deleted if shown to be factually incorrect.
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