https://www.taxtmi.com/caselaws?id=178940 Actual payment of customs duty on imported components is treated as allowable under section 43B, even where duty drawback has not yet accrued, and unutilised MODVAT/RG 23A balances are considered on the same statutory-payment basis. The section 14A disallowance is not to be mechanically worked out and requires fresh quantification in light of the jurisdictional High Court decision. Sales tax subsidy under the Haryana incentive scheme is analysed under the purpose test and characterised as a capital receipt where the object is to promote new investment or expansion. VRS expenditure, club membership expense and the excess consumption addition are addressed by applying consistent precedent and business-purpose reasoning. en-us Fri, 19 Aug 2011 00:00:00 +0530 Wed, 29 Mar 2023 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178940 Actual payment of customs duty on imported components is treated as allowable under section 43B, even where duty drawback has not yet accrued, and unutilised MODVAT/RG 23A balances are considered on the same statutory-payment basis. The section 14A disallowance is not to be mechanically worked out and requires fresh quantification in light of the jurisdictional High Court decision. Sales tax subsidy under the Haryana incentive scheme is analysed under the purpose test and characterised as a capital receipt where the object is to promote new investment or expansion. VRS expenditure, club membership expense and the excess consumption addition are addressed by applying consistent precedent and business-purpose reasoning. Case-Laws Income Tax Fri, 19 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178940