Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Consultancy charges paid to a sister concern were treated as genuine business expenditure because the agreements defined the work, supporting bills were on record, TDS and service tax had been deposited, and no fair market material showed the payment to be excessive; the related-party disallowance was deleted. Interest on vehicle loans was also allowed as business expenditure because the loans related to vehicles acquired in earlier years, part-year interest had been claimed previously, and the current-year increase reflected full-year interest on outstanding borrowings rather than fresh purchases; that disallowance was deleted.
Consultancy charges paid to a sister concern were treated as genuine business expenditure because the agreements defined the work, supporting bills were on record, TDS and service tax had been deposited, and no fair market material showed the payment to be excessive; the related-party disallowance was deleted. Interest on vehicle loans was also allowed as business expenditure because the loans related to vehicles acquired in earlier years, part-year interest had been claimed previously, and the current-year increase reflected full-year interest on outstanding borrowings rather than fresh purchases; that disallowance was deleted.
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