Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Writ petition challenging assessment order u/s 147 dismissed. Court held that once assessee has availed alternate remedy of filing appeal, appellate authority bound by jurisdictional High Court's decisions must decide appeal considering assessee's contentions on illegality of assessment order and notice u/s 148 in light of court's interpretation of Sections 151 and 151A. Entertaining writ petitions in such circumstances would require High Court to adjudicate matters pending before appellate authorities, contrary to judicial approach. Assessee directed to pursue pending appeal before appropriate appellate authority.
Writ petition challenging assessment order u/s 147 dismissed. Court held that once assessee has availed alternate remedy of filing appeal, appellate authority bound by jurisdictional High Court's decisions must decide appeal considering assessee's contentions on illegality of assessment order and notice u/s 148 in light of court's interpretation of Sections 151 and 151A. Entertaining writ petitions in such circumstances would require High Court to adjudicate matters pending before appellate authorities, contrary to judicial approach. Assessee directed to pursue pending appeal before appropriate appellate authority.
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