Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Third-party seized diaries and excel sheets cannot support additions for alleged cash rebate repayment or unaccounted molasses sales unless they clearly establish the transactions and are supported by independent corroborative evidence. Unsigned, ambiguous entries, a retracted statement, and denial of cross-examination undermine their evidentiary value and breach natural justice; the related additions were deleted. Disallowance computed under section 14A read with Rule 8D cannot be imported into book-profit computation under section 115JB, requiring deletion of that adjustment. Components integral to a cogeneration plant, without standalone function, qualify for the higher depreciation rate applicable to the plant; the depreciation disallowance was deleted.
Third-party seized diaries and excel sheets cannot support additions for alleged cash rebate repayment or unaccounted molasses sales unless they clearly establish the transactions and are supported by independent corroborative evidence. Unsigned, ambiguous entries, a retracted statement, and denial of cross-examination undermine their evidentiary value and breach natural justice; the related additions were deleted. Disallowance computed under section 14A read with Rule 8D cannot be imported into book-profit computation under section 115JB, requiring deletion of that adjustment. Components integral to a cogeneration plant, without standalone function, qualify for the higher depreciation rate applicable to the plant; the depreciation disallowance was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
