S. 37(1) : Business expenditure-Provision for warranty-Liquidated damages-losses of non-moving inventories due to cancellation of orders-Sales promotion expenses-Allowable as deduction. [S. 145]
S. 37(1) : Business expenditure-Provision for warranty-Liquidated damages-losses of non-moving inventories due to cancellation of orders-Sales promotion expenses-Allowable as deduction. [S. 145]
S. 37(1) : Business expenditure-Participatory development expenses-CSR expenditures-Order of Tribunal is affirmed.
S. 37(1) : Business expenditure-Capital or revenue-Replacements of parts of machinery-Allowable as revenue expenditure-Contribution to Sardar Vallabhbhai Rastriya Ekta Trust for construction of a statue of Sardar Vallabhbhai Patel-Enhance brand value-Allowable as deduction.
S. 37(1) : Business expenditure-Amount paid to retiring partner as per the provision in partnership deed-Diversion of income at source by overriding title-Allowable as deduction. [S. 4]
S. 37(1) : Business expenditure-Method of accounting-Award-Interest payable-Award stayed-Not contingent-Order of High Court is affirmed-SLP of Revenue is dismissed. [S. 145]
S. 37(1) : Business expenditure-Sales commission-Order of High Court is affirmed-SLP of Revenue is dismissed.
S. 37(1) : Business expenditure-Amount paid to retiring partner as per the provision in partnership deed-Diversion of income at source by overriding title-Allowable as deduction-Availed 2020-SLP of Revenue is dismissed as infructuous.[S. 4, Art. 136]
S. 32 : Depreciation-Goodwill created as a result of Amalgamation-Intangible asset-Order of Tribunal allowing the depreciation is affirmed. [S.47, 49(1)(e), 55(2)]
S. 32 : Depreciation-Brand name-Intangible assets-Commercial rights-Depreciation is allowable. [S.32 (1)(ii)]
S. 14A : Disallowance of expenditure-Exempt income-Mixed funds-Rule 8 would be attracted automatically is not correct-Disallowance cannot exceed exempt income.[R.8D]