Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
ITAT admitted additional ground regarding exemption under s.10(15)(iv)(h) for interest income from PSU bonds/debentures, following NTPC precedent and Bombay HC ruling in Siva Equipment. Matter remanded to AO for verification of eligibility criteria. On s.80G deduction claim, following previous ITAT ruling for AY 2006-07, issue remanded to AO for fresh examination. Regarding computation u/r 2 of First Schedule (s.44), ITAT affirmed that life insurance business profits must be calculated as annual average surplus between inter-valuation periods per Insurance Act 1938 requirements. Revenue's appeal dismissed on all grounds, maintaining consistency with prior coordinate bench decisions. AO directed to verify factual aspects of exemption claims while adhering to statutory provisions.
ITAT admitted additional ground regarding exemption under s.10(15)(iv)(h) for interest income from PSU bonds/debentures, following NTPC precedent and Bombay HC ruling in Siva Equipment. Matter remanded to AO for verification of eligibility criteria. On s.80G deduction claim, following previous ITAT ruling for AY 2006-07, issue remanded to AO for fresh examination. Regarding computation u/r 2 of First Schedule (s.44), ITAT affirmed that life insurance business profits must be calculated as annual average surplus between inter-valuation periods per Insurance Act 1938 requirements. Revenue's appeal dismissed on all grounds, maintaining consistency with prior coordinate bench decisions. AO directed to verify factual aspects of exemption claims while adhering to statutory provisions.
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