Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
Alternative statutory remedy and delay bar GST writ challenges despite pending rectification, while distinct subject matter permits parallel proceedin...
Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Government securities held to maturity by a bank are treated as stock-in-trade and may be valued at cost or market value, whichever is lower. Resulting revaluation loss is deductible. Bad debts actually written off in respect of non-rural advances remain deductible despite a provision for bad and doubtful debts relating to rural advances. The proviso to section 36(1)(vii) prevents double deduction for rural advances but does not restrict deductions for actual write-offs of non-rural debts.
Government securities held to maturity by a bank are treated as stock-in-trade and may be valued at cost or market value, whichever is lower. Resulting revaluation loss is deductible. Bad debts actually written off in respect of non-rural advances remain deductible despite a provision for bad and doubtful debts relating to rural advances. The proviso to section 36(1)(vii) prevents double deduction for rural advances but does not restrict deductions for actual write-offs of non-rural debts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
