Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Interest earned by a co-operative society from investments with a co-operative bank was treated as eligible for deduction under section 80P(2)(d), following earlier non-jurisdictional precedent. Where conflicting non-jurisdictional High Court views exist, the view favourable to the assessee was preferred. Reliance on Totgars was not accepted to deny the claim in this context. The disallowance was deleted in principle, but the Assessing Officer was asked to verify the actual nature of the interest and then grant consequential relief.
Interest earned by a co-operative society from investments with a co-operative bank was treated as eligible for deduction under section 80P(2)(d), following earlier non-jurisdictional precedent. Where conflicting non-jurisdictional High Court views exist, the view favourable to the assessee was preferred. Reliance on Totgars was not accepted to deny the claim in this context. The disallowance was deleted in principle, but the Assessing Officer was asked to verify the actual nature of the interest and then grant consequential relief.
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