Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Depreciation on fixed assets funded by project subsidy was allowed, as the Tribunal followed the assessee's own earlier year decision and held that subsidy did not by itself justify denial of depreciation. Additional depreciation on new plant and machinery was remitted for fresh verification because the nature, use and acquisition purpose of the machinery had not been properly examined. Expenditure on Mahila Netruva Vikas Gokul Gram was also sent back, since bills and vouchers were not produced to establish genuineness. Deduction under section 80P(2)(d) on interest from co-operative banks was upheld, the Tribunal applying its consistent view that such interest qualifies for relief.
Depreciation on fixed assets funded by project subsidy was allowed, as the Tribunal followed the assessee's own earlier year decision and held that subsidy did not by itself justify denial of depreciation. Additional depreciation on new plant and machinery was remitted for fresh verification because the nature, use and acquisition purpose of the machinery had not been properly examined. Expenditure on Mahila Netruva Vikas Gokul Gram was also sent back, since bills and vouchers were not produced to establish genuineness. Deduction under section 80P(2)(d) on interest from co-operative banks was upheld, the Tribunal applying its consistent view that such interest qualifies for relief.
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