Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Rejection of Petitioner’s Settlement Applications - The High court acknowledged the delay on the part of the petitioner in submitting the required documents but considered the peculiar facts of the case. Despite the delay, the court noted that the petitioner should be given an opportunity to have their settlement applications considered, as the delay should not render them inconsequential. The court found that the delay of 15 days in submitting the documents should not prejudice the petitioner. - The court granted the reliefs sought by the petitioner, directing the respondent to restore the settlement applications and consider them afresh. T
Rejection of Petitioner’s Settlement Applications - The High court acknowledged the delay on the part of the petitioner in submitting the required documents but considered the peculiar facts of the case. Despite the delay, the court noted that the petitioner should be given an opportunity to have their settlement applications considered, as the delay should not render them inconsequential. The court found that the delay of 15 days in submitting the documents should not prejudice the petitioner. - The court granted the reliefs sought by the petitioner, directing the respondent to restore the settlement applications and consider them afresh. T
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