Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
After the 01-04-2016 amendment, weighted deduction for in-house R&D under section 35(2AB) was confined to the expenditure quantified by the DSIR in Form 3CL, and the Assessing Officer could not allow a higher amount. MEIS receipts treated as capital receipts were not liable to addition in book profit under section 115JB unless they fell within the specific Explanation 1 adjustments, and a capital receipt not debited to profit and loss could not be added merely because of accounting treatment. Loss on investment in a wholly owned subsidiary was treated as business loss where the investment was made on commercial expediency to further business operations. Both the assessee's and Revenue's appeals were dismissed.
After the 01-04-2016 amendment, weighted deduction for in-house R&D under section 35(2AB) was confined to the expenditure quantified by the DSIR in Form 3CL, and the Assessing Officer could not allow a higher amount. MEIS receipts treated as capital receipts were not liable to addition in book profit under section 115JB unless they fell within the specific Explanation 1 adjustments, and a capital receipt not debited to profit and loss could not be added merely because of accounting treatment. Loss on investment in a wholly owned subsidiary was treated as business loss where the investment was made on commercial expediency to further business operations. Both the assessee's and Revenue's appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
