Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4785
Join Channel
TaxTMI 
