Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that interest income derived by a cooperative society from investments made with any other cooperative society is eligible for deduction. Despite an amendment excluding co-operative banks from Sec. 80P benefits, the tribunal held that as long as the interest income is derived from investments with a cooperative bank, the deduction is permissible.
Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that interest income derived by a cooperative society from investments made with any other cooperative society is eligible for deduction. Despite an amendment excluding co-operative banks from Sec. 80P benefits, the tribunal held that as long as the interest income is derived from investments with a cooperative bank, the deduction is permissible.
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