Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Receipts claimed as advances for sale of land were taxed as income from other sources because the assessee could not establish ownership, possession, or any surviving contingent right in the land, and the factual basis for treating the sums as capital receipts failed. The Tribunal held that, absent any proved property right or transfer, the amounts were taxable in the hands of the assessee. It also sustained reopening under section 147 for A.Y. 2009-10, holding that an error in the recorded quantum of receipt did not undermine the underlying reason to believe, since the MOU, the deal value, and the receipt itself remained undisputed.
Receipts claimed as advances for sale of land were taxed as income from other sources because the assessee could not establish ownership, possession, or any surviving contingent right in the land, and the factual basis for treating the sums as capital receipts failed. The Tribunal held that, absent any proved property right or transfer, the amounts were taxable in the hands of the assessee. It also sustained reopening under section 147 for A.Y. 2009-10, holding that an error in the recorded quantum of receipt did not undermine the underlying reason to believe, since the MOU, the deal value, and the receipt itself remained undisputed.
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