S. 36(1)(vii) : Bad debt-Sale of unit by way of slump sale-Deliberately keeping entries in accounts to claim loss at end of year-Not allowable ad bad debt. [S. 50B]
S. 36(1)(vii) : Bad debt-Sale of unit by way of slump sale-Deliberately keeping entries in accounts to claim loss at end of year-Not allowable ad bad debt. [S. 50B]
S. 36(1)(iii) : Interest on borrowed capital-Advance to sister concern-No advances made during the year-Sufficient interest free funds-Addition is not valid on notional basis.
S. 36(1)(iii) : Interest on borrowed capital-Foreign currency convertible Bonds-Premium on maturity-Allowable as deduction.
S. 36(1)(iii) : Interest on borrowed capital-Explaining that all loans and advances utilised for business purpose-Order of CIT(A) is affirmed.
S. 35 : Scientific research expenditure-Weighted deduction-Subsequent withdrawal of approval granted to institution with retrospective effect-Approval valid and subsisting on date of donation-Entitled to weighted deduction. [S. 35(1)(ii)]
S. 35 : Scientific research expenditure-Weighted deduction-Subsequent withdrawal of approval granted to institution with retrospective effect-Approval valid and subsisting on date of donation-Entitled to weighted deduction. [S. 35(1)(ii)]
S. 35 : Scientific research expenditure-Claim made in the revised computation during assessment proceedings-Assessing Officer is directed to allow the claim.-Research and development expenditure-Weighted deduction-Allowable. [S. 35(1)(iv), 35(2AB), 139]
S. 35 : Scientific research expenditure-Weighted Deduction-Amendment brought by Income-tax (Tenth Amendment) Rules, 2016 with effect from 1-7-2016-new provision brought for certifying amount of expenditure from year to year-prior to amendment in 2016, no such procedure prescribed-Curtailing expenditure and weighted deduction not proper-Entitled to weighted deduction. S. 35(2AB).
S. 35 : Scientific research expenditure-Weighted Deduction-Amendment brought by Income-tax (Tenth Amendment) Rules, 2016 with effect from 1-7-2016-new provision brought for certifying amount of expenditure from year to year-prior to amendment in 2016, no such procedure prescribed-Curtailing expenditure and weighted deduction not proper-Entitled to weighted deduction. [S. 35(2AB)]
S. 32 : Depreciation-Home-Theatre-Used for exhibiting technological developments in field of software to employees and customers-Deletion of disallowance of depreciation is justified.