Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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Interest earned by a co-operative credit society on temporarily parked business funds in bank deposits was treated as income attributable to its business of providing credit facilities to members, making it eligible for deduction under section 80P(2)(a)(i). The Tribunal followed binding jurisdictional precedent, relied on Tumkur Merchants and later similar decisions, and distinguished Totgars because that ruling concerned retained sale proceeds payable to members, not business funds of a society exclusively engaged in credit activity. It also applied judicial discipline by following the Karnataka High Court over contrary views. On identical facts, the same deduction was extended to the other assessment years.
Interest earned by a co-operative credit society on temporarily parked business funds in bank deposits was treated as income attributable to its business of providing credit facilities to members, making it eligible for deduction under section 80P(2)(a)(i). The Tribunal followed binding jurisdictional precedent, relied on Tumkur Merchants and later similar decisions, and distinguished Totgars because that ruling concerned retained sale proceeds payable to members, not business funds of a society exclusively engaged in credit activity. It also applied judicial discipline by following the Karnataka High Court over contrary views. On identical facts, the same deduction was extended to the other assessment years.
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