Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Payment made to a labour union for facilitating a mutually acceptable settlement with workers was examined for allowability as business expenditure under s. 37(1) on the test of commercial expediency. Since the taxpayer demonstrated a direct nexus between the payment (made through banking channels) and its business activity of resolving labour issues through dialogue and settlement, the expenditure was held to be incurred wholly and exclusively for the purposes of business. Accordingly, the deduction under s. 37(1) was allowed and the appeal was allowed. - ITAT
Payment made to a labour union for facilitating a mutually acceptable settlement with workers was examined for allowability as business expenditure under s. 37(1) on the test of commercial expediency. Since the taxpayer demonstrated a direct nexus between the payment (made through banking channels) and its business activity of resolving labour issues through dialogue and settlement, the expenditure was held to be incurred wholly and exclusively for the purposes of business. Accordingly, the deduction under s. 37(1) was allowed and the appeal was allowed. - ITAT
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