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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Deduction under section 10AA was denied where the assessee's own Form 56F and audit report showed nil export proceeds in convertible foreign exchange, and supplies to DTA or another SEZ were treated as non-qualifying absent proof of export out of India. Employees' PF and ESI contribution was disallowed because payment was made even beyond the EPFO grace period. Sundry balances written off failed for lack of supporting evidence. Bad debts written off were allowed once the amounts were recorded as irrecoverable in the accounts under TRF Ltd. Adjustment of patent-related liability against an investment was held not to attract section 41(1) because it was a capital asset transaction, not a trading liability. The section 10AA claim for AY 2018-19 was remanded for fresh verification of revised Form 56F.
Deduction under section 10AA was denied where the assessee's own Form 56F and audit report showed nil export proceeds in convertible foreign exchange, and supplies to DTA or another SEZ were treated as non-qualifying absent proof of export out of India. Employees' PF and ESI contribution was disallowed because payment was made even beyond the EPFO grace period. Sundry balances written off failed for lack of supporting evidence. Bad debts written off were allowed once the amounts were recorded as irrecoverable in the accounts under TRF Ltd. Adjustment of patent-related liability against an investment was held not to attract section 41(1) because it was a capital asset transaction, not a trading liability. The section 10AA claim for AY 2018-19 was remanded for fresh verification of revised Form 56F.
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