Duplicate PAN cancellation timeframe requires prior administrative representation before judicial intervention, ensuring a time-bound decision on the ...
Natural justice and pre-CIRP labour awards protect termination compensation, permitting withdrawal of court deposits despite later insolvency resoluti...
Arbitration of SEZ sub-lease monetary claims preserves rent, maintenance, termination, improvements and damages disputes while unused premises are vac...
Scientific research approval grants a research association tax recognition, subject to annual donor reporting, certification, and regulatory complianc...
ITAT upheld the deletion of the addition relating to a notional foreign-exchange loss on restatement of liabilities and assets, finding the assessee had pleaded and reconciled contract liabilities and applied AS-11 such that the alleged loss was revenue in nature and properly accrued; the CIT(A)'s deletion was affirmed. ITAT also affirmed deletion of the disallowance for interest on a residential property, accepting its inclusion in the relevant block of assets. The Tribunal partly sustained the Revenue on directors' foreign-travel expenses, imposing an additional disallowance of Rs.2,00,000 above the disallowed Rs.51,20,000. The section 14A read with Rule 8D addition was deleted for want of AO's satisfaction and proof of nexus.
ITAT upheld the deletion of the addition relating to a notional foreign-exchange loss on restatement of liabilities and assets, finding the assessee had pleaded and reconciled contract liabilities and applied AS-11 such that the alleged loss was revenue in nature and properly accrued; the CIT(A)'s deletion was affirmed. ITAT also affirmed deletion of the disallowance for interest on a residential property, accepting its inclusion in the relevant block of assets. The Tribunal partly sustained the Revenue on directors' foreign-travel expenses, imposing an additional disallowance of Rs.2,00,000 above the disallowed Rs.51,20,000. The section 14A read with Rule 8D addition was deleted for want of AO's satisfaction and proof of nexus.
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TaxTMI 
TaxTMI 
of 4888 
