Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Deposits made by assessee in Krishi Bank were fixed deposit investments, not trading activity. Loss suffered when bank went into liquidation is capital loss, not business loss u/s 28 or bad debt u/s 36(1)(vii). Assessing Officer and appellate authorities rightly treated loss as capital loss based on evidence. No substantial question of law arises for adjudication u/s 260A as it involves findings of fact which cannot be re-adjudicated in appeal. Substantial question of law answered against assessee in favor of revenue.
Deposits made by assessee in Krishi Bank were fixed deposit investments, not trading activity. Loss suffered when bank went into liquidation is capital loss, not business loss u/s 28 or bad debt u/s 36(1)(vii). Assessing Officer and appellate authorities rightly treated loss as capital loss based on evidence. No substantial question of law arises for adjudication u/s 260A as it involves findings of fact which cannot be re-adjudicated in appeal. Substantial question of law answered against assessee in favor of revenue.
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