Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
State co-operative law governs the meaning of "member" for section 80P relief, so a credit society cannot be denied deduction merely because it deals with nominal or associate members who lack voting rights or equal participation rights; such dealings are not automatically dealings with the public, and blanket or proportionate denial was rejected. The Tribunal also held that where disallowance of interest provision increases the eligible business profit, the enhanced figure remains business income from providing credit facilities to members, so deduction under section 80P(2)(a)(i) must be recomputed on that higher amount, subject to the other conditions of the provision.
State co-operative law governs the meaning of "member" for section 80P relief, so a credit society cannot be denied deduction merely because it deals with nominal or associate members who lack voting rights or equal participation rights; such dealings are not automatically dealings with the public, and blanket or proportionate denial was rejected. The Tribunal also held that where disallowance of interest provision increases the eligible business profit, the enhanced figure remains business income from providing credit facilities to members, so deduction under section 80P(2)(a)(i) must be recomputed on that higher amount, subject to the other conditions of the provision.
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