Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Interest expenditure under section 57 remains deductible where borrowings retain a real nexus with assets generating income taxable under Income from Other Sources. Conversion of investments into sale proceeds and then fixed or term deposits does not, by itself, break that nexus. Deduction is not limited to interest income realised in the same year; arithmetical equivalence between expenditure and annual income is not required. An oral interest arrangement may establish an existing liability when supported by conduct and historical treatment. The creditor's accounting method and timing of taxability of corresponding interest are independently determined and cannot restrict the borrower's otherwise allowable deduction, subject to year-wise quantification, verification, and separate statutory disallowances.
Interest expenditure under section 57 remains deductible where borrowings retain a real nexus with assets generating income taxable under Income from Other Sources. Conversion of investments into sale proceeds and then fixed or term deposits does not, by itself, break that nexus. Deduction is not limited to interest income realised in the same year; arithmetical equivalence between expenditure and annual income is not required. An oral interest arrangement may establish an existing liability when supported by conduct and historical treatment. The creditor's accounting method and timing of taxability of corresponding interest are independently determined and cannot restrict the borrower's otherwise allowable deduction, subject to year-wise quantification, verification, and separate statutory disallowances.
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