Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Income from other sources - Deduction of interest expenditure - direction of the CIT – A in restricting the deduction to the extent of income earned of term deposit - The Appellate Tribunal noted that the appellant had earned bank interest of Rs. 41 lakhs. - Following previous decisions of the Coordinate Bench, the Tribunal directed the AO to allow the deduction of interest expenditure of Rs. 3.27 crores, as claimed by the appellant. - The Tribunal found that the interest expenditure was indeed incurred for the purpose of earning interest income, based on precedents and the nature of the transactions.
Income from other sources - Deduction of interest expenditure - direction of the CIT – A in restricting the deduction to the extent of income earned of term deposit - The Appellate Tribunal noted that the appellant had earned bank interest of Rs. 41 lakhs. - Following previous decisions of the Coordinate Bench, the Tribunal directed the AO to allow the deduction of interest expenditure of Rs. 3.27 crores, as claimed by the appellant. - The Tribunal found that the interest expenditure was indeed incurred for the purpose of earning interest income, based on precedents and the nature of the transactions.
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