Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Related-party interest expenditure may be disallowed only to the extent it is excessive compared with fair market value; where the interest on an unsecured related-party loan is not excessive, the related expenditure is not disallowable. The provision does not permit a corresponding adjustment by taxing notional interest income from a related party, and separate loan and current accounts cannot be consolidated merely because they involve the same party. Employees' PF and ESI contributions paid after the prescribed due date remain disallowable. Claims for related-party software services, maintenance and brokerage require adequate evidence of the services or facilitation actually provided; unsupported claims fail the genuineness test.
Related-party interest expenditure may be disallowed only to the extent it is excessive compared with fair market value; where the interest on an unsecured related-party loan is not excessive, the related expenditure is not disallowable. The provision does not permit a corresponding adjustment by taxing notional interest income from a related party, and separate loan and current accounts cannot be consolidated merely because they involve the same party. Employees' PF and ESI contributions paid after the prescribed due date remain disallowable. Claims for related-party software services, maintenance and brokerage require adequate evidence of the services or facilitation actually provided; unsupported claims fail the genuineness test.
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