Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Deduction under Section 80I on the profits and gains of an industrial undertaking had to be computed without first reducing the deduction claimed under Section 32AB. Applying the Supreme Court's distinction between 'profits and gains' and 'income' in Vijay Industries, the Court held that Section 80I is to be worked out on the undertaking's profits themselves, not on a net figure after the 32AB reduction. The Tribunal was therefore wrong to direct such reduction, and the question was answered for the assessee and against the Revenue.
Deduction under Section 80I on the profits and gains of an industrial undertaking had to be computed without first reducing the deduction claimed under Section 32AB. Applying the Supreme Court's distinction between 'profits and gains' and 'income' in Vijay Industries, the Court held that Section 80I is to be worked out on the undertaking's profits themselves, not on a net figure after the 32AB reduction. The Tribunal was therefore wrong to direct such reduction, and the question was answered for the assessee and against the Revenue.
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