S. 69 : Unexplained investments-Income from undisclosed sources-Huge expenses-Additions to income based on facts-No substantial question of law. [S. 260A]
S. 69 : Unexplained investments-Income from undisclosed sources-Huge expenses-Additions to income based on facts-No substantial question of law. [S. 260A]
S. 56 : Income from other sources-Right shares-Allotted to proportionate to shareholding in company-Provision is not applicable in respect of allocation of rights shares allotted below FMV proportionate to his shareholding in company-Gifts-Additional shares received on account of renunciation of rights issue by wife and father-Relatives-Excluded from purview of operation of section 56(2)(vii)(c)-Share premium-Balance sheet-Balance sheet is not drawn up on date of allotment, for arriving at FMV of shares under section 56(2)(vii)(c)(ii), previous balance sheet which is audited and approved in AGM has to be taken into consideration, before allotment of share. [S. 56(2)(vii)(c), R.11UA(1)(c)]
S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Deletion of addition on facts-No substantial question of law.[S. 37(1), 143(3), 260A]
S. 40(a)(ia): Amounts not deductible-Deduction at source-Amounts paid for services of employees of parent company-No Evidence that amount was reimbursement of actual expenditure as such services by parent company-Disallowance is affirmed.
S. 40(a)(ia): Amounts not deductible-Deduction at source-Recipient filing belated loss return and not paying taxes on income declared-Liable to pay tax deducted at source with interest.[S.201(1)]
S. 37(1) : Business expenditure-Capital or revenue Royalty for use of logo of company-Expenses on employees stock option plan-Revenue expenditure.[Companies Act, 1956,2(15A) 2((37)]
S.37(1): Business expenditure-Derivative contracts-Forward contracts-Foreign Exchange fluctuation loss-Loss is allowable. [S. 28(i)]
S.37(1): Business expenditure-Capital or revenue-Amounts paid as royalty to parent company for use of its trademark-Allowable as revenue expenditure-Employees stock option-Allowable as revenue expenditure-Interest on excess refund is not deductible.[S.143(1)
S. 37(1): Business expenditure-Loss on account of fluctuation in rate of foreign exchange-Derivative contracts-Hedge against exchange risk in respect of export proceeds receivable in foreign exchange-Loss is allowable-Special leave petition dismissed.[S. 28(i) Art. 136]
S. 37(1) : Business expenditure-Corporate Social Responsibility-Special Leave Petition Dismissed on facts-Leaving Question Of Law Open. [Art. 136]