Withdrawal of obsolete FEMA circulars streamlines rules on external commercial borrowings, non-resident bond investments, and money transfer sub-agent...
Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
The Tribunal upheld the CIT(A)'s decision on various issues, dismissing the appeal of the Revenue. The implications include the affirmation of the deductibility of ESOP compensation, the restriction of disallowance under section 14A to investments yielding exempt income, the allowance of expenses related to the increase in authorized share capital, the recognition of legal and professional expenses as revenue expenditure, and the treatment of stale cheques as liabilities until settled or adjusted.
The Tribunal upheld the CIT(A)'s decision on various issues, dismissing the appeal of the Revenue. The implications include the affirmation of the deductibility of ESOP compensation, the restriction of disallowance under section 14A to investments yielding exempt income, the allowance of expenses related to the increase in authorized share capital, the recognition of legal and professional expenses as revenue expenditure, and the treatment of stale cheques as liabilities until settled or adjusted.
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TaxTMI 
TaxTMI 
of 4891 
