Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Ad hoc capitalization of advertisement, publicity and sales promotion expenditure was found unsustainable because no tangible basis showed creation of a capital asset or brand-building benefit; the expenditure remained revenue in nature. TDS credit was held to follow the income actually offered to tax under the contract period, so a mismatch between TDS reflected and income assessable in the year could not justify an addition where section 199(3) and Rule 37BA(3)(i) were correctly applied. Interest under section 244A was not taxable on accrual basis because income accrues only when there is an enforceable right to receive it, and the amount had not actually become receivable in the relevant year.
Ad hoc capitalization of advertisement, publicity and sales promotion expenditure was found unsustainable because no tangible basis showed creation of a capital asset or brand-building benefit; the expenditure remained revenue in nature. TDS credit was held to follow the income actually offered to tax under the contract period, so a mismatch between TDS reflected and income assessable in the year could not justify an addition where section 199(3) and Rule 37BA(3)(i) were correctly applied. Interest under section 244A was not taxable on accrual basis because income accrues only when there is an enforceable right to receive it, and the amount had not actually become receivable in the relevant year.
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