Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
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Negative due date rate in cash-settled crude oil futures was upheld because the contract specifications tied settlement to the NYMEX front-month settlement price converted into rupees, and the DDR was a reference rate applied after trading closed, not a standalone market price. The HC held that traders who chose to retain their positions until expiry could not later insist on a floor price or seek annulment of the settlement, as that would contradict the agreed contract framework and prejudice counterparties. Judicial interference was also declined because the settlement had already been completed across numerous traders and could not be effectively unwound through writ directions.
Negative due date rate in cash-settled crude oil futures was upheld because the contract specifications tied settlement to the NYMEX front-month settlement price converted into rupees, and the DDR was a reference rate applied after trading closed, not a standalone market price. The HC held that traders who chose to retain their positions until expiry could not later insist on a floor price or seek annulment of the settlement, as that would contradict the agreed contract framework and prejudice counterparties. Judicial interference was also declined because the settlement had already been completed across numerous traders and could not be effectively unwound through writ directions.
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