PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Legal principles regarding raising new grounds in an appeal before tax authorities, and the treatment of interest income earned on compulsory deposits of share application or subscription money. The Supreme Court held that tax authorities cannot take a narrow view and prevent an assessee from raising new grounds, as long as the relevant facts are on record and the ground is raised bona fide. Regarding interest income, the Supreme Court ruled that interest earned on compulsory deposits made for share issue is incidental and should be set off against share issue expenses, since the purpose of deposit is compliance with statutory requirements, not earning income. The court decisions favored the assessee's position on both issues.
Legal principles regarding raising new grounds in an appeal before tax authorities, and the treatment of interest income earned on compulsory deposits of share application or subscription money. The Supreme Court held that tax authorities cannot take a narrow view and prevent an assessee from raising new grounds, as long as the relevant facts are on record and the ground is raised bona fide. Regarding interest income, the Supreme Court ruled that interest earned on compulsory deposits made for share issue is incidental and should be set off against share issue expenses, since the purpose of deposit is compliance with statutory requirements, not earning income. The court decisions favored the assessee's position on both issues.
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