https://www.taxtmi.com/caselaws?id=190696 Reconciled NDDB receipts were treated as accounted income because the amounts matched books and prior-year disclosures, while interest disallowance on investment in a joint venture was found unjustified where the investment served business purposes and own funds were available. Promotional expenditure under the Scooby Doo scheme was treated as business expenditure because it was incurred for sales promotion in the franchise arrangement. Reconciled closing stock and obsolete stores write-offs were allowed on the basis of regular accounting and actual write-off evidence. Sales tax remission under the West Bengal incentive scheme was characterised as a capital receipt because it was granted to promote industrial development, not trading operations. en-us Mon, 30 Jun 2014 00:00:00 +0530 Thu, 23 Feb 2017 10:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190696 Reconciled NDDB receipts were treated as accounted income because the amounts matched books and prior-year disclosures, while interest disallowance on investment in a joint venture was found unjustified where the investment served business purposes and own funds were available. Promotional expenditure under the Scooby Doo scheme was treated as business expenditure because it was incurred for sales promotion in the franchise arrangement. Reconciled closing stock and obsolete stores write-offs were allowed on the basis of regular accounting and actual write-off evidence. Sales tax remission under the West Bengal incentive scheme was characterised as a capital receipt because it was granted to promote industrial development, not trading operations. Case-Laws Income Tax Mon, 30 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190696