Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Administrative and establishment expenses incurred to keep a co-operative society in existence, meet statutory compliance, and preserve its affairs were held deductible against interest income on a real-income basis; the Tribunal also noted that any related business loss could be set off against income under another head. The disallowance was deleted. On self-assessment tax, the Tribunal found that credit had been given only for TDS despite payment of self-assessment tax, treated the omission as a mistake apparent from the record, and directed verification and grant of credit. The appeal was partly allowed.
Administrative and establishment expenses incurred to keep a co-operative society in existence, meet statutory compliance, and preserve its affairs were held deductible against interest income on a real-income basis; the Tribunal also noted that any related business loss could be set off against income under another head. The disallowance was deleted. On self-assessment tax, the Tribunal found that credit had been given only for TDS despite payment of self-assessment tax, treated the omission as a mistake apparent from the record, and directed verification and grant of credit. The appeal was partly allowed.
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