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...
Alleged embezzlement/misappropriation payments were not allowable as business expenditure because the assessee adopted contradictory characterisations, produced no agreements, bills or particulars identifying the role or benefit to the alleged misappropriator, and did not pursue recovery; the Tribunal's disallowance was sustained. Payments to a partner's relative were disallowed under the provision permitting the assessing officer to strike down excessive or unreasonable related party payments in absence of documentary support; that application was upheld. Reassessment was within limitation because the escaped income exceeded the statutory threshold, bringing the longer limitation period into play; the notice was therefore valid and the appeal dismissed.
Alleged embezzlement/misappropriation payments were not allowable as business expenditure because the assessee adopted contradictory characterisations, produced no agreements, bills or particulars identifying the role or benefit to the alleged misappropriator, and did not pursue recovery; the Tribunal's disallowance was sustained. Payments to a partner's relative were disallowed under the provision permitting the assessing officer to strike down excessive or unreasonable related party payments in absence of documentary support; that application was upheld. Reassessment was within limitation because the escaped income exceeded the statutory threshold, bringing the longer limitation period into play; the notice was therefore valid and the appeal dismissed.
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