Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Unpaid bonus provisions are disallowable in the year of claim where payment conditions are not met, but the same income cannot be taxed again when an excess provision is reversed and offered in a later year; any resulting double taxation must be avoided through verification and reduction. Provisions made by a co-operative bank against standard assets were treated as deductible, resulting in deletion of the related disallowances. A separate disallowance of income-tax provision was deleted because the amount had already been added back, preventing double addition. Ex gratia employee incentives were treated as salary or incentive payments allowable in the year of payment. Carry-forward depreciation was directed to be recomputed.
Unpaid bonus provisions are disallowable in the year of claim where payment conditions are not met, but the same income cannot be taxed again when an excess provision is reversed and offered in a later year; any resulting double taxation must be avoided through verification and reduction. Provisions made by a co-operative bank against standard assets were treated as deductible, resulting in deletion of the related disallowances. A separate disallowance of income-tax provision was deleted because the amount had already been added back, preventing double addition. Ex gratia employee incentives were treated as salary or incentive payments allowable in the year of payment. Carry-forward depreciation was directed to be recomputed.
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