Disallowance of depreciation on opening WDV of goodwill and vendor compliance expenses deleted in assessee’s favour. Issue Whether the Assessing Officer was justified in re-examining and disallowing depreciation on the opening WDV of goodwill by treating its actual cost as nil, despite the issue being settled in the year of amalgamation. Whether the disallowance of… Read More »
Reversal of Unbilled Revenue Offered to Tax and Non-Royalty Payments to Non-Residents Are Deductible Reversal of Unbilled Revenue Offered to Tax and Non-Royalty Payments to Non-Residents Are Deductible Issue Whether the reversal/write-off of opening unbilled revenue that was already offered to tax in preceding assessment years is allowable as business expenditure under Section 37(1). Whether… Read More »
Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Issue Whether the acquisition of 10.43 lakh shares of RIL by RPPL using funds routed from promoter-linked entities constitutes… Read More »