S. 37(1) : Business expenditure-Loss on account of exchange difference-Allowable as deduction. [S. 28(i)]
S. 37(1) : Business expenditure-Loss on account of exchange difference-Allowable as deduction. [S. 28(i)]
S. 37(1) : Business expenditure-Pre-operative expenses-Capital or revenue-Business of hotels, motels, catering etc.-Setting up business-Salaries and allowances to experts-Allowable as business expenditure.
S. 37(1) : Business expenditure-Fees-ROC-Capital or revenue-Debt restructuring-Increase in authorised capital and annual remuneration paid to monitoring institution under CDR-Allowable as revenue expenditure.
S. 37(1) : Business expenditure-Contribution to Temple, Panchayat-Allowable as business expenditure. [S. 80G]
S. 36(1)(viii) : Eligible business-Special reserve-Eligible profits-Interest income from Government securities-Apportionment of other income-Matter remanded for verification.
S. 36(1)(iii) : Interest on borrowed capital-Real estate construction-Method of accounting-Percentage completion method-Stock in trade-Work in progress-Allowable as deduction. [S. 145]
S. 32 : Depreciation-Motor car-Not maintained log book for usage-Personal use-Disallowance of 20% of depreciation is affirmed. [S. 38(2)]
S. 32 : Depreciation-Additional depreciation-Manufacturing switchgear products-tools, dies, jigs, etc.-Parts of machinery entitle to claim additional depreciation.
S. 28(iv) : Business income-Value of any benefit or perquisites-Converted in to money or not-Advances deposits in preceding year-Failure to file confirmation-Cessation liability-Provision of section 28(iv) is not applicable. [S. 41(1)]
S. 23 : Income from house property-Annual value-Vacancy allowance-Only an intention to let out a property coupled with efforts to let out is sufficient to come within purview of section 23(1)(c)-As lease rental received was nil, addition made by Commissioner (Appeals) on basis of Annual Letting Value (ALV) under section 23(1)(a) was to be deleted. [S. 22, 23(1)(a), 23(1)(c)]