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...
Interest earned by a co-operative credit society on investments with other co-operative banks is discussed as qualifying for deduction under section 80P(2)(d), alternatively to the claim under section 80P(2)(a)(i). The text states that section 80P(4), which excludes co-operative banks from the deduction, does not remove the investing society's entitlement where the recipient bank remains a co-operative society. It further notes reliance on jurisdictional Tribunal decisions and preference for the interpretation favourable to the assessee where non-jurisdictional High Court views conflict. The stated result is deletion of the disallowance and allowance of deduction for both assessment years.
Interest earned by a co-operative credit society on investments with other co-operative banks is discussed as qualifying for deduction under section 80P(2)(d), alternatively to the claim under section 80P(2)(a)(i). The text states that section 80P(4), which excludes co-operative banks from the deduction, does not remove the investing society's entitlement where the recipient bank remains a co-operative society. It further notes reliance on jurisdictional Tribunal decisions and preference for the interpretation favourable to the assessee where non-jurisdictional High Court views conflict. The stated result is deletion of the disallowance and allowance of deduction for both assessment years.
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