Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Hybrid seed production on leased agricultural land was treated as agricultural income because the assessee had exclusive use and beneficial control of the land, supervised cultivation, bore the cultivation risk, and owned the produce; use of technical methods did not change the agricultural character, so the addition as business income was deleted. Trade creditors for professional and compliance expenses were held outside section 68 because they were not loan credits and were later paid through banking channels, so that addition was deleted. Balance differences in creditor confirmations were not taxable under section 69C or section 41(1) absent proof of remission or cessation of liability, so that addition was also deleted.
Hybrid seed production on leased agricultural land was treated as agricultural income because the assessee had exclusive use and beneficial control of the land, supervised cultivation, bore the cultivation risk, and owned the produce; use of technical methods did not change the agricultural character, so the addition as business income was deleted. Trade creditors for professional and compliance expenses were held outside section 68 because they were not loan credits and were later paid through banking channels, so that addition was deleted. Balance differences in creditor confirmations were not taxable under section 69C or section 41(1) absent proof of remission or cessation of liability, so that addition was also deleted.
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