The appeal challenging alleged ex parte disposal by CIT(A) was dismissed, as the assessee had been given adequate opportunity to submit its case. The ruling emphasises the need for proper documentation to substantiate business expenditures

The Tribunal found the reduction commercially justified and non-prejudicial to shareholders or creditors. The ruling underscores that surplus capital may be returned when operational focus changes and statutory compliance is ensured.

The Tribunal found the reduction commercially justified and non-prejudicial to shareholders or creditors. The ruling underscores that surplus capital may be returned when operational focus changes and statutory compliance is ensured.