Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
The Tribunal dealt with three business expenditure claims. It deleted disallowance of input tax credit reversal because the amount was shown to form part of total project cost and was apportioned between cost of sales and closing work-in-progress, so the factual basis for rejection failed. It remanded the claim for advances written off as trading loss because the assessee had to first establish business purpose and irrecoverability, and was allowed to produce further evidence. It sustained disallowance of social activity and charitable expenditure, holding that charitable outlays and an unexplained training fee had no demonstrated nexus with the real estate business.
The Tribunal dealt with three business expenditure claims. It deleted disallowance of input tax credit reversal because the amount was shown to form part of total project cost and was apportioned between cost of sales and closing work-in-progress, so the factual basis for rejection failed. It remanded the claim for advances written off as trading loss because the assessee had to first establish business purpose and irrecoverability, and was allowed to produce further evidence. It sustained disallowance of social activity and charitable expenditure, holding that charitable outlays and an unexplained training fee had no demonstrated nexus with the real estate business.
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