Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
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The SC held that the respondent's Section 34 application under the ACA, filed on 11.07.2022 (the next court working day), was within the limitation period and required no condonation of delay. The High Court correctly allowed the Section 37 appeal, determining the application was timely filed. The Court declined to interfere with the High Court's interim direction staying execution of pending recovery until merits adjudication, noting the appellant had already withdrawn 50% of the arbitral sum deposited by the respondent. The appeal was accordingly dismissed.
The SC held that the respondent's Section 34 application under the ACA, filed on 11.07.2022 (the next court working day), was within the limitation period and required no condonation of delay. The High Court correctly allowed the Section 37 appeal, determining the application was timely filed. The Court declined to interfere with the High Court's interim direction staying execution of pending recovery until merits adjudication, noting the appellant had already withdrawn 50% of the arbitral sum deposited by the respondent. The appeal was accordingly dismissed.
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TaxTMI 
TaxTMI 
of 4894 
