Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Retrospectively amended Section 115JA was applied to treat amounts set aside for bad and doubtful debts as a provision for diminution in the value of an asset, so the addition in book profit computation was upheld and the assessee's challenge failed. By contrast, the audit report requirement for a deduction claim under Section 80IA(7) was treated as directory for the relevant period, so failure to file it before assessment did not defeat the claim when the report was produced before the appellate authority. The appeal was therefore partly allowed, with the Revenue succeeding on book profit treatment and the assessee succeeding on the audit-report issue.
Retrospectively amended Section 115JA was applied to treat amounts set aside for bad and doubtful debts as a provision for diminution in the value of an asset, so the addition in book profit computation was upheld and the assessee's challenge failed. By contrast, the audit report requirement for a deduction claim under Section 80IA(7) was treated as directory for the relevant period, so failure to file it before assessment did not defeat the claim when the report was produced before the appellate authority. The appeal was therefore partly allowed, with the Revenue succeeding on book profit treatment and the assessee succeeding on the audit-report issue.
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