Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
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Income from Other Sources u/s 56(2) - interest received u/Sec. 28 of the Land Acquisition Act, 1894 granted by the learned Reference Court - The Tribunal agrees with the appellant's contention that interest received under Section 28 of the Land Acquisition Act is part of the land acquisition compensation itself and thus not taxable under Section 56(2) of the Income Tax Act. - The Tribunal holds that decisions of the Bombay bench of the High Court, within its territorial jurisdiction, prevail over those of the Aurangabad bench. Therefore, it upholds the appellant's argument that the Bombay bench's decision applies to the case at hand, leading to a favorable outcome for the assessee.
Income from Other Sources u/s 56(2) - interest received u/Sec. 28 of the Land Acquisition Act, 1894 granted by the learned Reference Court - The Tribunal agrees with the appellant's contention that interest received under Section 28 of the Land Acquisition Act is part of the land acquisition compensation itself and thus not taxable under Section 56(2) of the Income Tax Act. - The Tribunal holds that decisions of the Bombay bench of the High Court, within its territorial jurisdiction, prevail over those of the Aurangabad bench. Therefore, it upholds the appellant's argument that the Bombay bench's decision applies to the case at hand, leading to a favorable outcome for the assessee.
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