Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
Pursuant to an interim order directing payment to the Monitoring Committee, NCLAT held that no time-period or accrual date for interest was fixed by the Tribunal, and therefore the Applicant was not prima facie entitled to interest from the date of the interim order. The Registry released the directed sum on a later date, and NCLAT reaffirmed its prior judgment setting aside NCLT's direction for proportionate interest, which has become final. As the Applicant has subsequently received the full sum determined by the adjudicating authorities, no further relief is warranted and the application is dismissed.
Pursuant to an interim order directing payment to the Monitoring Committee, NCLAT held that no time-period or accrual date for interest was fixed by the Tribunal, and therefore the Applicant was not prima facie entitled to interest from the date of the interim order. The Registry released the directed sum on a later date, and NCLAT reaffirmed its prior judgment setting aside NCLT's direction for proportionate interest, which has become final. As the Applicant has subsequently received the full sum determined by the adjudicating authorities, no further relief is warranted and the application is dismissed.
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