Demerger struck down by the High Court on tax evasion ground.
Interest on delay in payment of provident fund is covered by section 43B and deductible on payment basis.
Provision for estimated expenses/losses on construction contracts provided as per AS 7 is deductible expenditure.
The Madras High Court in the case of Indo Tech Electric Company v. DCIT held that in case of conversion of partnership firm into company, compensation paid towards non compete
When the assets form part of 'block of asset', they cannot be segregated for the purpose of calculating tax depreciation, even when there is no 'actual user' of asset during
Interest earned on short term deposits made out of foreign exchange advance received from foreign tourists is not eligible for deduction under section 80HHD -Delhi High Court