Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
NCLAT held that once an application had been permitted to be withdrawn, the tribunal was not required to make further observations affecting the parties' rights. The impugned liberty to run the company according to law and to file a petition under Section 241 went beyond the prayer sought, revived a controversy already concluded or withdrawn in earlier proceedings, and amounted to judicial overreach and relief beyond pleadings. Those observations were therefore quashed, while the parties remained free to pursue any other remedy available in law.
NCLAT held that once an application had been permitted to be withdrawn, the tribunal was not required to make further observations affecting the parties' rights. The impugned liberty to run the company according to law and to file a petition under Section 241 went beyond the prayer sought, revived a controversy already concluded or withdrawn in earlier proceedings, and amounted to judicial overreach and relief beyond pleadings. Those observations were therefore quashed, while the parties remained free to pursue any other remedy available in law.
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