https://www.taxtmi.com/caselaws?id=461507 Software development costs forming part of the computer block are capital expenditure eligible for depreciation rather than an immediate revenue deduction. Bad-debt recoveries of amalgamating entities are taxable as business receipts of the amalgamated entity. Higher depreciation applies to UPS, computer software and qualifying commercial vehicles used in leasing. Interest disallowance under section 14A is not justified where own funds cover investments, and Rule 8D administrative disallowance must consider only investments yielding exempt income. Commercially expedient pooja, employee and customer presentation expenses, repossessed-asset trading losses, bad debts, non-compete fees and business-origination commissions may be deductible where incurred in the ordinary course of business. Hire-purchase income and NPA receipts remain taxable under the applicable recognition and receipt principles. en-us Fri, 28 Jun 2024 00:00:00 +0530 Mon, 07 Apr 2025 14:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461507 Software development costs forming part of the computer block are capital expenditure eligible for depreciation rather than an immediate revenue deduction. Bad-debt recoveries of amalgamating entities are taxable as business receipts of the amalgamated entity. Higher depreciation applies to UPS, computer software and qualifying commercial vehicles used in leasing. Interest disallowance under section 14A is not justified where own funds cover investments, and Rule 8D administrative disallowance must consider only investments yielding exempt income. Commercially expedient pooja, employee and customer presentation expenses, repossessed-asset trading losses, bad debts, non-compete fees and business-origination commissions may be deductible where incurred in the ordinary course of business. Hire-purchase income and NPA receipts remain taxable under the applicable recognition and receipt principles. Case-Laws Income Tax Fri, 28 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461507