Daily Archives: November 2, 2026

Royalty for Non-Exclusive Trademark Use and Interest When Having Surplus Funds Are Allowable Deductions

By | November 2, 2026
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Royalty for Non-Exclusive Trademark Use and Interest When Having Surplus Funds Are Allowable Deductions Issue Whether royalty paid for non-exclusive and non-transferable rights to use a trademark/logo constitutes allowable revenue expenditure under Section 37(1) of the Income-tax Act, 1961 (Section 34 of the Income-tax Act, 2025). Whether disallowance of overdraft (OD) interest under Section 36(1)(iii)… Read More »

Reassessment Valid and Depreciation Remanded as Denying Investigation Report for Rebuttal Violates Principles of Natural Justice

By | November 2, 2026
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Reassessment Valid and Depreciation Remanded as Denying Investigation Report for Rebuttal Violates Principles of Natural Justice Issue Whether the reassessment proceedings initiated under Section 148 based on GST investigation inputs regarding bogus vendor invoices are valid, and whether disallowing depreciation on capital asset purchases without sharing the underlying investigation report with the assessee for rebuttal… Read More »

CIT(E) Justified in Rejecting Section 12AB Renewal as Cash Anonymous Donations and Tainted Funds Disprove Genuine Charitable Activities Benefitting Diversified Community

By | November 2, 2026
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CIT(E) Justified in Rejecting Section 12AB Renewal as Cash Anonymous Donations and Tainted Funds Disprove Genuine Charitable Activities Benefitting Diversified Community Issue Whether the Prescribed Authority (CIT(E)) is justified in rejecting the renewal of registration under Section 12AB of the Income-tax Act, 1961 (Section 332 of the Income-tax Act, 2025) on account of non-genuine activities,… Read More »