Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
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The Delhi HC reiterated that derecognition of income relating to consumers' share of efficiency gains and the deduction under section 80-IA were already covered against the Department by its earlier decision in Tata Power Delhi Distribution Ltd., leaving no surviving question. It further upheld deletion of disallowance under section 43B for uncollected energy tax, accepting that the tax became payable only when collected from consumers. The Court also treated interest on consumer security deposits as an accrued statutory and contractual liability, not a contingent one, and held that UPS forms an integral part of a computer system, so depreciation at the computer rate was proper. The appeal was dismissed.
The Delhi HC reiterated that derecognition of income relating to consumers' share of efficiency gains and the deduction under section 80-IA were already covered against the Department by its earlier decision in Tata Power Delhi Distribution Ltd., leaving no surviving question. It further upheld deletion of disallowance under section 43B for uncollected energy tax, accepting that the tax became payable only when collected from consumers. The Court also treated interest on consumer security deposits as an accrued statutory and contractual liability, not a contingent one, and held that UPS forms an integral part of a computer system, so depreciation at the computer rate was proper. The appeal was dismissed.
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