Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Weighted deduction for scientific research expenditure was allowed on regular remuneration paid to the Chief Scientific Officer, as it was incurred for day-to-day research services, but the one-time performance bonus linked to patent licensing success was excluded as not directly related to research activity. ESOP expenditure disallowance was deleted by following the Tribunal's earlier orders in the assessee's own case. Weighted deduction under section 35(2AB) was confined to expenditure verified and certified by DSIR in Form 3CL, so the balance manpower and travel claim was not extended the deduction. For the alternative claim, deduction under section 37(1) was permitted subject to verification that the same amount had not already been claimed in the profit and loss account.
Weighted deduction for scientific research expenditure was allowed on regular remuneration paid to the Chief Scientific Officer, as it was incurred for day-to-day research services, but the one-time performance bonus linked to patent licensing success was excluded as not directly related to research activity. ESOP expenditure disallowance was deleted by following the Tribunal's earlier orders in the assessee's own case. Weighted deduction under section 35(2AB) was confined to expenditure verified and certified by DSIR in Form 3CL, so the balance manpower and travel claim was not extended the deduction. For the alternative claim, deduction under section 37(1) was permitted subject to verification that the same amount had not already been claimed in the profit and loss account.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
