Admissibility of inquiry statements and electronic printouts in customs adjudication requires witness examination and cross-examination before relianc...
Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Notional carry forward of depreciation losses that were previously set off against other income cannot be notionally brought forward to compute the deduction under section 80IA, because section 80IA(5) contains no mandate for such notional setoff; consequence: such earlier-absorbed losses are excluded when computing the 80IA deduction. Separately, section 80IA(9) prevents double claiming of deductions so that deductions under other Chapter VIA provisions remain computable but their combined allowability with 80IA is capped at 100% of business profits; CBDT guidance supports this limiting effect to prevent repeated deductions.
Notional carry forward of depreciation losses that were previously set off against other income cannot be notionally brought forward to compute the deduction under section 80IA, because section 80IA(5) contains no mandate for such notional setoff; consequence: such earlier-absorbed losses are excluded when computing the 80IA deduction. Separately, section 80IA(9) prevents double claiming of deductions so that deductions under other Chapter VIA provisions remain computable but their combined allowability with 80IA is capped at 100% of business profits; CBDT guidance supports this limiting effect to prevent repeated deductions.
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