Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
ITAT held that deduction for additional employee cost is allowable for three assessment years under the statutory scheme and upheld CIT(A)'s allowance. It deleted interest disallowance under section 14A/Rule 8D because interest-free own funds exceeded exempt investments and Rule 8D's mechanical computation was unsustainable without AO's cogent dissatisfaction. The Tribunal found write back of creditors reflected in profit before tax, disallowing a fresh addition. AJIO marketing outlays were treated as revenue expenditure despite Ind AS capitalisation. Section 80G deductions operate independently of section 37(1) CSR disallowance and were allowed. Foreign tax credit claim filed before assessment completion was remitted for verification and grant by the AO.
ITAT held that deduction for additional employee cost is allowable for three assessment years under the statutory scheme and upheld CIT(A)'s allowance. It deleted interest disallowance under section 14A/Rule 8D because interest-free own funds exceeded exempt investments and Rule 8D's mechanical computation was unsustainable without AO's cogent dissatisfaction. The Tribunal found write back of creditors reflected in profit before tax, disallowing a fresh addition. AJIO marketing outlays were treated as revenue expenditure despite Ind AS capitalisation. Section 80G deductions operate independently of section 37(1) CSR disallowance and were allowed. Foreign tax credit claim filed before assessment completion was remitted for verification and grant by the AO.
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