Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
Verification of intangible software expenditure and duplicated disallowances requires record-based reassessment before depreciation and income computa...
Cash receipt aggregation requires a single transaction, event or occasion; separate partner capital contributions cannot attract cash-receipt penaltie...
Related-party payment under section 40A(2)(a) cannot be disallowed unless excessiveness is tested against a truly comparable service; email marketing charges were deleted because the Assessing Officer compared dissimilar services and the record did not support the conclusion of excess payment. Depreciation and car-loan interest were allowed where the vehicles were kept ready for use, since actual use is not the sole test for business assets maintained in a state of readiness. Recruitment, placement and staff welfare es were disallowed because the assessee had admitted during assessment that no employees existed during the year and the amount was offered for disallowance.
Related-party payment under section 40A(2)(a) cannot be disallowed unless excessiveness is tested against a truly comparable service; email marketing charges were deleted because the Assessing Officer compared dissimilar services and the record did not support the conclusion of excess payment. Depreciation and car-loan interest were allowed where the vehicles were kept ready for use, since actual use is not the sole test for business assets maintained in a state of readiness. Recruitment, placement and staff welfare es were disallowed because the assessee had admitted during assessment that no employees existed during the year and the amount was offered for disallowance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4925 
