https://www.taxtmi.com/caselaws?id=71372 Gift articles without a logo were treated as allowable business expenditure where Rule 6B did not justify disallowance on the relevant facts, while club membership expenditure was not allowable. Purchaser deductions for defects or short supplies were allowable as business loss or revenue expenditure. Loss on sale of investments required reconsideration through a reasoned adjudication. Depreciation on employee flats was allowable under the block-of-assets concept where the block was owned and used for business, despite vacancy or guest-house use. A purported sale-and-lease-back arrangement lacking genuine commercial substance was treated as a colourable device, denying depreciation and interest. For Section 80-1 relief, directly attributable costs must be assigned to the relevant unit and common costs allocated rationally; recomputation was required. en-us Tue, 31 Jul 2007 00:00:00 +0530 Tue, 06 Feb 2024 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71372 Gift articles without a logo were treated as allowable business expenditure where Rule 6B did not justify disallowance on the relevant facts, while club membership expenditure was not allowable. Purchaser deductions for defects or short supplies were allowable as business loss or revenue expenditure. Loss on sale of investments required reconsideration through a reasoned adjudication. Depreciation on employee flats was allowable under the block-of-assets concept where the block was owned and used for business, despite vacancy or guest-house use. A purported sale-and-lease-back arrangement lacking genuine commercial substance was treated as a colourable device, denying depreciation and interest. For Section 80-1 relief, directly attributable costs must be assigned to the relevant unit and common costs allocated rationally; recomputation was required. Case-Laws Income Tax Tue, 31 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71372