Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The Appellate Tribunal addressed the claim of deduction u/s 32AD for additional investment allowance on an investment made in the financial year 2015-16. The issue arose due to a difference of opinion among the Tribunal members. The Central Government's notification regarding backward areas was a key point of contention. One member upheld the denial of the claim based on the timing of the notification, while another member allowed the deduction for the relevant financial years. The Tribunal ultimately ruled in favor of the assessee, emphasizing that the purpose of section 32AD is to provide a benefit for a period of 5 years, and that the notification should be interpreted liberally in favor of the assessee. The Tribunal concluded that the notification did not override the provisions of section 32AD, and the assessee was entitled to the deduction under the said section.
The Appellate Tribunal addressed the claim of deduction u/s 32AD for additional investment allowance on an investment made in the financial year 2015-16. The issue arose due to a difference of opinion among the Tribunal members. The Central Government's notification regarding backward areas was a key point of contention. One member upheld the denial of the claim based on the timing of the notification, while another member allowed the deduction for the relevant financial years. The Tribunal ultimately ruled in favor of the assessee, emphasizing that the purpose of section 32AD is to provide a benefit for a period of 5 years, and that the notification should be interpreted liberally in favor of the assessee. The Tribunal concluded that the notification did not override the provisions of section 32AD, and the assessee was entitled to the deduction under the said section.
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