Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Duplicate PAN cancellation timeframe requires prior administrative representation before judicial intervention, ensuring a time-bound decision on the ...
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HC held that income tax exemption under Section 10(26) for Scheduled Tribes is only applicable when income accrues in specified areas under Sixth Schedule. The interest on compensation was deemed to have accrued in North Lakhimpur, Assam, which does not fall within Sixth Schedule areas. Railway Tribunal's orders directing NF Railway to refund tax deducted at source were set aside, as mere tribal status from Arunachal Pradesh was insufficient grounds for exemption. The geographical location of income accrual, not tribal status alone, determines eligibility for tax exemption under Section 10(26).
HC held that income tax exemption under Section 10(26) for Scheduled Tribes is only applicable when income accrues in specified areas under Sixth Schedule. The interest on compensation was deemed to have accrued in North Lakhimpur, Assam, which does not fall within Sixth Schedule areas. Railway Tribunal's orders directing NF Railway to refund tax deducted at source were set aside, as mere tribal status from Arunachal Pradesh was insufficient grounds for exemption. The geographical location of income accrual, not tribal status alone, determines eligibility for tax exemption under Section 10(26).
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