Tag Archives: Asstt.Commissioner of Income-tax

Depreciation Is Allowable On Entire Contractual Cost Of IPL Franchise And TP Adjustments Require Mandatory TPO Reference

By | August 19, 2026
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Depreciation Is Allowable On Entire Contractual Cost Of IPL Franchise And TP Adjustments Require Mandatory TPO Reference Issue Whether “actual cost” under Section 43(1) for claiming depreciation on intangible assets (IPL franchise rights) means the entire contractual consideration or is limited to the actual instalments paid during the relevant year. Whether the Assessing Officer /… Read More »

Invocation of Section 153A Beyond Six Years Is Void Without Identifiable Asset Under Explanation 2

By | August 11, 2026
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Invocation of Section 153A Beyond Six Years Is Void Without Identifiable Asset Under Explanation 2 Invocation of Section 153A Beyond Six Years Is Void Without Identifiable Asset Under Explanation 2 Issue Whether the assumption of jurisdiction under Section 153A beyond the ordinary six-year block is legally sustainable when the seized material fails to establish that… Read More »

Disallowances for unverified TDS items are upheld while crystallized expenses and business write-offs are allowed.

By | July 7, 2026
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Disallowances for unverified TDS items are upheld while crystallized expenses and business write-offs are allowed. Issue Whether tax disallowances under Section 40(a)(ia) apply to unverified consultancy components and unconfirmed interest payments, and whether crystallized expenses, group-invoiced costs, routine electricity bills, written-off sundry balances, and business customer advances are deductible without attracting Section 68 or Section… Read More »