Change of corporate management after approved resolution plan - writ maintainable; property attachment not 'transfer' under PBPT; Section 32A protecti...
Annuloplasty band classification as implanted therapeutic appliance, not anatomical replacement, resulting in classification under tariff heading for ...
De-notification of Customs Area and termination of Container Freight Station custodian and Customs Cargo Service Provider authority effective 07-01-20...
Disallowance of stamp duty/fees paid for increase in authorised share capital turned on whether the expenditure was claimed as a deductible revenue outlay. The tribunal found, from the balance sheet note on "other equity" and the tax audit report, that the amount was directly adjusted in retained earnings as share issue expenses and was not routed through the P&L account as revenue expenditure. Since no deduction had been claimed in computing taxable income, there was no basis for any disallowance. The disallowance was deleted and the appeal was allowed. - ITAT
Disallowance of stamp duty/fees paid for increase in authorised share capital turned on whether the expenditure was claimed as a deductible revenue outlay. The tribunal found, from the balance sheet note on "other equity" and the tax audit report, that the amount was directly adjusted in retained earnings as share issue expenses and was not routed through the P&L account as revenue expenditure. Since no deduction had been claimed in computing taxable income, there was no basis for any disallowance. The disallowance was deleted and the appeal was allowed. - ITAT
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