Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
The HC upheld the ITAT's finding that the assessment order was validly passed under Section 143(3) despite the erroneous reference to Section 147, holding that such misquotation is curable under Section 292B and does not invalidate the proceedings. The court rejected the CIT(A)'s interpretation that the order was under Section 147/148, affirming that the assessment was a regular scrutiny under Section 143(3). Regarding the computation of deductions under Section 80-IA, the HC ruled in favor of the assessee, holding that interest income earned in the ordinary course of business cannot be artificially segregated to deny the deduction. The court found the Revenue's attempt to bifurcate business income arbitrary and against commercial prudence. Additionally, the HC concurred with the ITAT that interest income arising from the business cannot be offset against interest paid, aligning with Supreme Court precedent, thereby affirming the assessee's entitlement to full deductions under Section 80-IA.
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