Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
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Leave encashment exemption for a non-Government employee under section 10(10AA) was held to be computable on the basis of the revised CBDT ceiling applicable for AY 2020-21. Following its earlier decision and co-ordinate Bench rulings, the ITAT accepted that the enhanced limit applied, so the restriction made by the lower authorities to the earlier ceiling could not stand. The matter was remanded only for recomputation of the admissible exemption on the revised ceiling, with consequential deletion of the addition to that extent.
Leave encashment exemption for a non-Government employee under section 10(10AA) was held to be computable on the basis of the revised CBDT ceiling applicable for AY 2020-21. Following its earlier decision and co-ordinate Bench rulings, the ITAT accepted that the enhanced limit applied, so the restriction made by the lower authorities to the earlier ceiling could not stand. The matter was remanded only for recomputation of the admissible exemption on the revised ceiling, with consequential deletion of the addition to that extent.
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