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...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Section 43B requires specified deductions only in the year of actual payment; a contractual transfer of employee liabilities to a third party does not constitute payment for Section 43B purposes, so deductions for leave encashment and bonus claimed without actual payment were disallowed. The tribunal applied the principle that statutory obligations cannot be shifted by contract to secure a deduction and rejected reliance on inapposite authorities. Further, adjustments made during processing under the return (u/s 143(1)(a)) were held permissible where the disallowance was apparent and not a debatable question. The appellate order deleting the adjustment was set aside and the assessment adjustment upheld.
Section 43B requires specified deductions only in the year of actual payment; a contractual transfer of employee liabilities to a third party does not constitute payment for Section 43B purposes, so deductions for leave encashment and bonus claimed without actual payment were disallowed. The tribunal applied the principle that statutory obligations cannot be shifted by contract to secure a deduction and rejected reliance on inapposite authorities. Further, adjustments made during processing under the return (u/s 143(1)(a)) were held permissible where the disallowance was apparent and not a debatable question. The appellate order deleting the adjustment was set aside and the assessment adjustment upheld.
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