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...
Employee stock option discount is treated as employee remuneration and, following the cited Biocon ruling, is described as deductible business expenditure under the mercantile system even without actual cash outflow, because the liability is ascertained and not merely contingent when quantified on exercise. On the second issue, where no exempt income was earned or claimed in the relevant year, the text states that section 14A read with Rule 8D does not apply; the Finance Act, 2022 amendment extending the provision to years with no exempt income is said to operate prospectively from assessment year 2022-23. The reported result is deletion of both disallowances.
Employee stock option discount is treated as employee remuneration and, following the cited Biocon ruling, is described as deductible business expenditure under the mercantile system even without actual cash outflow, because the liability is ascertained and not merely contingent when quantified on exercise. On the second issue, where no exempt income was earned or claimed in the relevant year, the text states that section 14A read with Rule 8D does not apply; the Finance Act, 2022 amendment extending the provision to years with no exempt income is said to operate prospectively from assessment year 2022-23. The reported result is deletion of both disallowances.
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