Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Characterization of income - cash receipt due to waiver of loan by the state government - whether in the nature of subsidy - to be treated as benefit / perquisite u/s 28(iv) or not - there is a fundamental difference between “loan” and “subsidy” and the two concepts cannot be equated. While “loan” is a borrowing of money required to the repaid back with interest; “subsidy” is not required to be repaid back being a grant - even if a “loan” is written off or waived, which can be for various reasons, it cannot partake the character of a “subsidy” - No additions - HC
Characterization of income - cash receipt due to waiver of loan by the state government - whether in the nature of subsidy - to be treated as benefit / perquisite u/s 28(iv) or not - there is a fundamental difference between “loan” and “subsidy” and the two concepts cannot be equated. While “loan” is a borrowing of money required to the repaid back with interest; “subsidy” is not required to be repaid back being a grant - even if a “loan” is written off or waived, which can be for various reasons, it cannot partake the character of a “subsidy” - No additions - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
