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Corporate TaxArticle·16 July 2026

ITAT allows scrap credits and business expense claims

By J the App

Executive Summary

The ITAT deleted major disallowances relating to scrap credit, depreciation on account of CENVAT credit, provisions allowable under Section 43B, ad hoc disallowance of business expenditure, turnover reconciliation and staff welfare expenses. 

Only the issue relating to depreciation on certain fixed assets was remanded for fresh verification regarding their actual use.

Domain | Direct tax | Corporate tax

Background

The assessee, a listed compan...

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