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...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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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