Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Non-admission of additional evidence by CIT(A) was improper as the evidence went to the root of the matter. Late payment surcharge (LPSC) cannot be taxed as income due to lack of certainty of realization based on accounting standards and Supreme Court precedent. Disallowance of interest capitalization u/s 36(1)(iii) was partly upheld for direct asset purchases, remanded for Bamnauli project verification. Deduction u/s 80IA(4)(iv) for notional interest was allowed as eligible profit determination was proper. Foreign exchange loss on capital assets was allowed as liability reinstatement and future settlement accounting were valid. Depreciation disallowance was remitted back to AO for verification of working, asset put-to-use dates, and allowance as per law after providing opportunity of hearing.
Non-admission of additional evidence by CIT(A) was improper as the evidence went to the root of the matter. Late payment surcharge (LPSC) cannot be taxed as income due to lack of certainty of realization based on accounting standards and Supreme Court precedent. Disallowance of interest capitalization u/s 36(1)(iii) was partly upheld for direct asset purchases, remanded for Bamnauli project verification. Deduction u/s 80IA(4)(iv) for notional interest was allowed as eligible profit determination was proper. Foreign exchange loss on capital assets was allowed as liability reinstatement and future settlement accounting were valid. Depreciation disallowance was remitted back to AO for verification of working, asset put-to-use dates, and allowance as per law after providing opportunity of hearing.
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