Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Interest provision based on an arbitral award was disallowed because the Supreme Court's setting aside of that award extinguished the underlying liability, so the claim had to be reconsidered on the footing that no such interest was payable. Expenditure on gifts, boarding, lodging and allied arrangements for a General Body Meeting was held to be business expenditure under a purposive reading of section 37, since convening such a meeting was a statutory requirement and the Assessing Officer could not reject the claim merely as excessive once its business purpose was established. The Tribunal's allowance of that expenditure was affirmed, while the interest provision deduction was rejected.
Interest provision based on an arbitral award was disallowed because the Supreme Court's setting aside of that award extinguished the underlying liability, so the claim had to be reconsidered on the footing that no such interest was payable. Expenditure on gifts, boarding, lodging and allied arrangements for a General Body Meeting was held to be business expenditure under a purposive reading of section 37, since convening such a meeting was a statutory requirement and the Assessing Officer could not reject the claim merely as excessive once its business purpose was established. The Tribunal's allowance of that expenditure was affirmed, while the interest provision deduction was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
