https://www.taxtmi.com/caselaws?id=797387 Commercial vehicles acquired during the specified period qualify for 50% depreciation under the commercial-vehicle classification and block-of-assets framework. Research and development expenditure exceeding DSIR-approved amounts may remain deductible where incurred wholly and exclusively for business, subject to limited verification of the difference between approved and actual expenditure. Expenditure disallowance relating to exempt income is not warranted where interest-free funds exceed investments, applying the presumption that investments were made from those funds. Club expenses incurred in directors' or employees' names remain disallowable where their business purpose is not established and they are personal in nature. en-us Wed, 12 Aug 2026 00:00:00 +0530 Fri, 21 Aug 2026 08:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797387 Commercial vehicles acquired during the specified period qualify for 50% depreciation under the commercial-vehicle classification and block-of-assets framework. Research and development expenditure exceeding DSIR-approved amounts may remain deductible where incurred wholly and exclusively for business, subject to limited verification of the difference between approved and actual expenditure. Expenditure disallowance relating to exempt income is not warranted where interest-free funds exceed investments, applying the presumption that investments were made from those funds. Club expenses incurred in directors' or employees' names remain disallowable where their business purpose is not established and they are personal in nature. Case-Laws Income Tax Wed, 12 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797387