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...
The case deals with determining the appropriate date for converting an arbitral award expressed in foreign currency to Indian rupees. The court held that the exchange rate on the date of deposit applies, with non-withdrawal being at the discretion of the respondent. The date for converting a subsequent deposit is determined by the completion of proceedings. Statutory provisions dictate that interest ceases once a deposit is made to the court or the decree-holder. The relevant date for conversion is when the award becomes enforceable, after objections are decided. The deposited amount must be adjusted against the remaining principal and interest, converted on the date of enforceability. The ruling was in line with previous Supreme Court decisions.
The case deals with determining the appropriate date for converting an arbitral award expressed in foreign currency to Indian rupees. The court held that the exchange rate on the date of deposit applies, with non-withdrawal being at the discretion of the respondent. The date for converting a subsequent deposit is determined by the completion of proceedings. Statutory provisions dictate that interest ceases once a deposit is made to the court or the decree-holder. The relevant date for conversion is when the award becomes enforceable, after objections are decided. The deposited amount must be adjusted against the remaining principal and interest, converted on the date of enforceability. The ruling was in line with previous Supreme Court decisions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
