Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Claim for deduction under Section 80-IA is rejected by Revenue because agreement was with a corporate and the fuel farm lay outside airport premises; court finds the agreement was with a statutory airport authority and that the fuel farm is an integral component of airport operations, so the requisite conditions for the 80-IA benefit are satisfied and the deduction is allowable. On interest deductibility under Section 36(1)(iii) for hedge (swap) transactions, the Tribunal's application of the controlling Supreme Court precedent supports allowance of the interest expense, and Revenue does not contest that applicability.
Claim for deduction under Section 80-IA is rejected by Revenue because agreement was with a corporate and the fuel farm lay outside airport premises; court finds the agreement was with a statutory airport authority and that the fuel farm is an integral component of airport operations, so the requisite conditions for the 80-IA benefit are satisfied and the deduction is allowable. On interest deductibility under Section 36(1)(iii) for hedge (swap) transactions, the Tribunal's application of the controlling Supreme Court precedent supports allowance of the interest expense, and Revenue does not contest that applicability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
