Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
After the 01-04-2016 amendment, weighted deduction for in-house R&D under section 35(2AB) was confined to the expenditure quantified by the DSIR in Form 3CL, and the Assessing Officer could not allow a higher amount. MEIS receipts treated as capital receipts were not liable to addition in book profit under section 115JB unless they fell within the specific Explanation 1 adjustments, and a capital receipt not debited to profit and loss could not be added merely because of accounting treatment. Loss on investment in a wholly owned subsidiary was treated as business loss where the investment was made on commercial expediency to further business operations. Both the assessee's and Revenue's appeals were dismissed.
After the 01-04-2016 amendment, weighted deduction for in-house R&D under section 35(2AB) was confined to the expenditure quantified by the DSIR in Form 3CL, and the Assessing Officer could not allow a higher amount. MEIS receipts treated as capital receipts were not liable to addition in book profit under section 115JB unless they fell within the specific Explanation 1 adjustments, and a capital receipt not debited to profit and loss could not be added merely because of accounting treatment. Loss on investment in a wholly owned subsidiary was treated as business loss where the investment was made on commercial expediency to further business operations. Both the assessee's and Revenue's appeals were dismissed.
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