S. 36(1)(iii) :Interest on borrowed capital -Interest on loan taken for renovation and modernisation of factory premises is allowable as deduction .
S. 36(1)(iii) :Interest on borrowed capital -Interest on loan taken for renovation and modernisation of factory premises is allowable as deduction .
S.32: Depreciation- Lease premises -Notionally estimated cost and capitalised for restoration of office spaces for setting up of cell site towers – Depreciation is held to be not allowable [ S.43(1) ]
S.28(i): Business loss -Derivatives- loss at end of year on mark to market basis could not be disallowed on ground that same was contingent in nature [ S.37(1) ]
S. 263 : Commissioner – Revision of orders prejudicial to revenue -Deduction allowed u/s 10A allowed before adjustment unabsorbed depreciation or losses is held to be valid- Revision was held to be not valid . [ S.10A ]
S. 245D : Settlement Commission -Broker – Search and seizure- Failure to substantiate that entire unaccounted income from seized documents did not belong to him in respect of off market commodity transactions and hedging transaction -Rejection of application was held to be justified [ S. 69A, 153A, 245C ]
S. 194C : Deduction at source – Contractors – Payments to contractor for purchase of land and not development of works carried out is not liable to deduct tax at source [ S. 201(1) 201(IA) ]
S. 151 : Reassessment – Sanction for issue of notice – After the expiry of four years- Approval was not obtained – Reassessment was held to be bad in law [ S.147, 148 ]
S. 144C : Reference to dispute resolution panel – Defect in existing in original assessment order cannot be cured – show cause notice cannot be equated with assessment order – Oder passed without passing draft assessment was seta side .
S.92C: Transfer pricing – Comparable- While deterring ALP of components and parts exported to AE which are used in manufacturing of two wheelers cannot be compared with sale of finished goods in domestic market.
S.50C: Capital gains – Full value of consideration – Stamp valuation- When the assessee is protesting the valuation by Stamp authority and requesting the refer to Department volition Officer , the AO is bound to make the reference to Department Valuation Officer , accordingly the deletion of addition was held to be justified . [ S.45 ]