Tag Archives: NFAC

Addition to cash-in-hand cannot be made without rejecting audited books of account under Section 145.

By | September 21, 2026
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Addition to cash-in-hand cannot be made without rejecting audited books of account under Section 145. Addition to cash-in-hand cannot be made without rejecting audited books of account under Section 145. Issue Whether an addition can be made to the assessee’s income under Section 147 on account of cash-in-hand merely based on the difference between opening… Read More »

Proportionate Cost Allocation to Low-Pressure Steam for Section 80-IA Deduction Is Valid and Cannot Be Treated as Nil

By | August 21, 2026
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Proportionate Cost Allocation to Low-Pressure Steam for Section 80-IA Deduction Is Valid and Cannot Be Treated as Nil Issue Whether the Revenue can assign a nil cost to low-pressure steam generated by a captive power plant and allocate the entire process cost exclusively to electricity generation to deny a Section 80-IA deduction, despite the steam… Read More »