Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Special Package of Incentives - Imposition of cap on the total IPA allowable in respect of a unit based on Fixed Capital Investment - The Court held that the special package of incentives provided to ACL did not stipulate any overall financial cap based on FCI for the release of IPA. It was found that the package explicitly stated that IPA would be released without any financial cap, as outlined in the approval letter dated 02.03.2006. - The Court found that the State’s attempt to impose a financial cap retrospectively was mala fide and arbitrary. The Court reinforced the principle that contractual commitments made by the State under special packages should be honored, and any attempt to unilaterally alter such commitments is impermissible.
Special Package of Incentives - Imposition of cap on the total IPA allowable in respect of a unit based on Fixed Capital Investment - The Court held that the special package of incentives provided to ACL did not stipulate any overall financial cap based on FCI for the release of IPA. It was found that the package explicitly stated that IPA would be released without any financial cap, as outlined in the approval letter dated 02.03.2006. - The Court found that the State’s attempt to impose a financial cap retrospectively was mala fide and arbitrary. The Court reinforced the principle that contractual commitments made by the State under special packages should be honored, and any attempt to unilaterally alter such commitments is impermissible.
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