Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Deductibility of software licence fees was treated as revenue expenditure because licences were limited-term, conferred no enduring benefit, and available material established revenue treatment; disallowance deleted. Depreciation on intangible assets acquired under business transfer agreements was allowed because assets were not recorded or depreciated by transferor, so aggregate deduction did not arise and the sixth proviso to section 32(1) did not apply; AO directed to allow depreciation. Claim to deduct foreign taxes as business expenses under section 37(1) was restored to the AO for factual verification including foreign tax credit and section 40(a)(ii) considerations. Weighted deduction under section 35(2AB) for in house R&D was allowed; alternatively expenditure directed to be considered under section 35(1)(i).
Deductibility of software licence fees was treated as revenue expenditure because licences were limited-term, conferred no enduring benefit, and available material established revenue treatment; disallowance deleted. Depreciation on intangible assets acquired under business transfer agreements was allowed because assets were not recorded or depreciated by transferor, so aggregate deduction did not arise and the sixth proviso to section 32(1) did not apply; AO directed to allow depreciation. Claim to deduct foreign taxes as business expenses under section 37(1) was restored to the AO for factual verification including foreign tax credit and section 40(a)(ii) considerations. Weighted deduction under section 35(2AB) for in house R&D was allowed; alternatively expenditure directed to be considered under section 35(1)(i).
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