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...
Deduction under section 80-IAB extends to interest earned on unutilised business funds compulsorily placed in fixed deposits, including deposits made at the insistence of financial institutions, where the interest is treated as business income rather than income from other sources. Expenditure disallowance under section 14A read with rule 8D cannot exceed the exempt income earned. Accordingly, the deduction for qualifying fixed-deposit interest was upheld, and the disallowance relating to exempt income was restricted to the amount of exempt income.
Deduction under section 80-IAB extends to interest earned on unutilised business funds compulsorily placed in fixed deposits, including deposits made at the insistence of financial institutions, where the interest is treated as business income rather than income from other sources. Expenditure disallowance under section 14A read with rule 8D cannot exceed the exempt income earned. Accordingly, the deduction for qualifying fixed-deposit interest was upheld, and the disallowance relating to exempt income was restricted to the amount of exempt income.
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