Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Allowability of interest expenditure u/s 36(1)(iii) - prior to its amendment by Finance Act, 2015 - prohibition of claim of interest on revenue account only where capital was borrowed for acquisition of an asset for ‘extension of existing business or profession’ - since capital borrowed resulted in acquisition of asset without resulting in extension of existing business per se - revenue expenditure
Allowability of interest expenditure u/s 36(1)(iii) - prior to its amendment by Finance Act, 2015 - prohibition of claim of interest on revenue account only where capital was borrowed for acquisition of an asset for ‘extension of existing business or profession’ - since capital borrowed resulted in acquisition of asset without resulting in extension of existing business per se - revenue expenditure
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