Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Concessionaire rights acquired under a DBFOT highway agreement were treated as depreciable intangible assets. The Tribunal held that the assessee had, at its own cost, obtained an exclusive licence and authority to operate and maintain the project highway and receive annuity during the concession period, and that this right fell within section 32(1)(ii) as a valuable business or commercial right. Depreciation was allowed on the opening written down value of the intangible asset for the years in appeal. The alternative claim for amortisation was rendered infructuous, and the remaining grounds were treated as academic or left open.
Concessionaire rights acquired under a DBFOT highway agreement were treated as depreciable intangible assets. The Tribunal held that the assessee had, at its own cost, obtained an exclusive licence and authority to operate and maintain the project highway and receive annuity during the concession period, and that this right fell within section 32(1)(ii) as a valuable business or commercial right. Depreciation was allowed on the opening written down value of the intangible asset for the years in appeal. The alternative claim for amortisation was rendered infructuous, and the remaining grounds were treated as academic or left open.
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