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...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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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