https://www.taxtmi.com/caselaws?id=122971 Interest disallowance for alleged diversion of borrowed funds is not justified where no nexus with interest-free advances is established and sufficient interest-free funds are available; business-related security deposits require the same nexus-based assessment. Sales tax and excise duty are excluded from total turnover for deduction computation, while the treatment of specified business turnover and miscellaneous income depends on verification of their nature and connection with export profits. DEPB sale proceeds require fresh examination under the applicable deduction framework. ISO certification costs may constitute revenue expenditure when directly connected with business operations. Transfer-pricing adjustments require support for rejecting the taxpayer's method and adopting CUP, including reliable comparables and adjustments. en-us Fri, 18 Feb 2011 00:00:00 +0530 Wed, 22 Aug 2012 14:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122971 Interest disallowance for alleged diversion of borrowed funds is not justified where no nexus with interest-free advances is established and sufficient interest-free funds are available; business-related security deposits require the same nexus-based assessment. Sales tax and excise duty are excluded from total turnover for deduction computation, while the treatment of specified business turnover and miscellaneous income depends on verification of their nature and connection with export profits. DEPB sale proceeds require fresh examination under the applicable deduction framework. ISO certification costs may constitute revenue expenditure when directly connected with business operations. Transfer-pricing adjustments require support for rejecting the taxpayer's method and adopting CUP, including reliable comparables and adjustments. Case-Laws Income Tax Fri, 18 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122971