Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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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