Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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Notional rental income was deleted because the earlier rent memorandum had been superseded by an operative agreement, independently confirmed by the tenant and supported by invoices, banking records and tax statements. Booking advances did not constitute ceased or bogus liabilities merely because they remained outstanding; sale and transfer documentation supported their continuity. An opening loan balance could not be treated as unexplained cash credit because no credit arose during the relevant year. A debt written off in the accounts qualified for deduction without proof of actual irrecoverability. Supported repairs and routine business expenses were allowed, but interest on tax deducted at source remained disallowed. Penalty was deleted while the assessment's jurisdiction remained under challenge, subject to lawful reinitiation after the writ petition's disposal.
Notional rental income was deleted because the earlier rent memorandum had been superseded by an operative agreement, independently confirmed by the tenant and supported by invoices, banking records and tax statements. Booking advances did not constitute ceased or bogus liabilities merely because they remained outstanding; sale and transfer documentation supported their continuity. An opening loan balance could not be treated as unexplained cash credit because no credit arose during the relevant year. A debt written off in the accounts qualified for deduction without proof of actual irrecoverability. Supported repairs and routine business expenses were allowed, but interest on tax deducted at source remained disallowed. Penalty was deleted while the assessment's jurisdiction remained under challenge, subject to lawful reinitiation after the writ petition's disposal.
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