https://www.taxtmi.com/caselaws?id=385772 A partnership firm may claim depreciation and allied vehicle expenses where the car is beneficially owned from firm resources and used for business; interest and insurance are revenue items, life tax forms part of vehicle cost, and pre-acquisition loan processing charges are capital in nature, with apportionment required for mixed use. Cash payment for film screening was treated as falling within the statutory exception where immediate payment was necessary after business hours and banking facilities were unavailable, so disallowance under section 40A(3) was not attracted. Consideration for acquiring film exhibition or distribution rights was held to be outside royalty and fees for technical services, so no TDS disallowance under section 40(a)(ia) arose. en-us Thu, 14 Feb 2019 00:00:00 +0530 Fri, 13 Sep 2019 05:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385772 A partnership firm may claim depreciation and allied vehicle expenses where the car is beneficially owned from firm resources and used for business; interest and insurance are revenue items, life tax forms part of vehicle cost, and pre-acquisition loan processing charges are capital in nature, with apportionment required for mixed use. Cash payment for film screening was treated as falling within the statutory exception where immediate payment was necessary after business hours and banking facilities were unavailable, so disallowance under section 40A(3) was not attracted. Consideration for acquiring film exhibition or distribution rights was held to be outside royalty and fees for technical services, so no TDS disallowance under section 40(a)(ia) arose. Case-Laws Income Tax Thu, 14 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385772