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...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Assessee's appeal allowed regarding disallowance of interest u/s 14A as its own funds exceeded investments yielding exempt income. CIT(A) rightly deleted disallowance of ESOP expenses, being allowable business expenditure u/s 37, following Biocon Ltd. case. ESOP scheme was part of annual report, details disclosed during assessment. ESOP expenses reflected as perquisites, TDS deducted, not contingent in nature since claimed on actual exercise. ITAT upheld CIT(A)'s decision on ESOP expenses.
Assessee's appeal allowed regarding disallowance of interest u/s 14A as its own funds exceeded investments yielding exempt income. CIT(A) rightly deleted disallowance of ESOP expenses, being allowable business expenditure u/s 37, following Biocon Ltd. case. ESOP scheme was part of annual report, details disclosed during assessment. ESOP expenses reflected as perquisites, TDS deducted, not contingent in nature since claimed on actual exercise. ITAT upheld CIT(A)'s decision on ESOP expenses.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
