PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT addressed MAT computation under Section 115JB regarding interest subsidy received under TUF scheme. The Tribunal held that capital receipts and exempt income are to be excluded while computing book profits. Relying on previous decisions in similar cases involving Reliance Industries Limited and consistent judicial precedents, the Tribunal affirmed the CIT(A)'s order deleting the addition of interest subsidy while calculating book profit. The Tribunal distinguished earlier judgments related to Section 115J and emphasized the specific applicability to Section 115JB. Ultimately, the decision was rendered against the revenue, confirming that the interest subsidy should not be included in book profit calculations.
ITAT addressed MAT computation under Section 115JB regarding interest subsidy received under TUF scheme. The Tribunal held that capital receipts and exempt income are to be excluded while computing book profits. Relying on previous decisions in similar cases involving Reliance Industries Limited and consistent judicial precedents, the Tribunal affirmed the CIT(A)'s order deleting the addition of interest subsidy while calculating book profit. The Tribunal distinguished earlier judgments related to Section 115J and emphasized the specific applicability to Section 115JB. Ultimately, the decision was rendered against the revenue, confirming that the interest subsidy should not be included in book profit calculations.
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