“Section 3(29)”

The expression "for the purpose of business" is wider in scope than "for the purpose of earning profits" and encompasses expenditures made for commercial expediency, business preservation, administration, and modernization.

Customer acquisition costs and advertisement expenditures are treated as revenue expenditures, not deferred expenditures, as there is no general concept of deferred expenditure for such items under Income Tax Law.

Income tax authorities cannot deduce the nature of a document from purported intention, go behind the document, consider the substance over form, or rewrite it merely to suit the revenue's purpose.

If the cost of acquisition for tenancy rights cannot be determined, the consideration received from the surrender of such tenancy rights is not subject to capital gains tax.

When relevant documents or additional evidence have a direct bearing on an issue, they may be allowed to be produced or admitted at the appellate stage, potentially leading to a de novo adjudication by the Assessing Officer for fresh consideration.

A retraction of a statement made during a search or survey is not valid if the assessee cannot prove it was made under threat or coercion, especially when independent witnesses were present.

Consideration received on surrender of tenancy rights is not subject to capital gains tax if the cost of acquisition of such rights cannot be determined.

The 'written down value' (WDV) under Section 43(6)(b) is determined by depreciation that has been 'actually allowed', meaning it has been taken into account or granted and given effect to by the Income-tax Officer in computing taxable income.