Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Ad hoc disallowance of vehicle depreciation cannot stand without adverse material or a factual basis showing personal use or defective record-keeping; where the assessee asserted log books and audit controls and the Revenue produced no specific rebuttal, the disallowance was treated as arbitrary and deleted. Donations for festivities were held allowable where CBDT circulars covered such payments, and those circulars were binding on the Revenue, so the addition was deleted. For fine and penalty expenditure under section 37(1), the record lacked sufficient factual clarity, and the remand to the Assessing Officer for verification was upheld, leaving that issue open on merits.
Ad hoc disallowance of vehicle depreciation cannot stand without adverse material or a factual basis showing personal use or defective record-keeping; where the assessee asserted log books and audit controls and the Revenue produced no specific rebuttal, the disallowance was treated as arbitrary and deleted. Donations for festivities were held allowable where CBDT circulars covered such payments, and those circulars were binding on the Revenue, so the addition was deleted. For fine and penalty expenditure under section 37(1), the record lacked sufficient factual clarity, and the remand to the Assessing Officer for verification was upheld, leaving that issue open on merits.
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