Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Section 115BAB gives a new manufacturing domestic company's option continuing effect: once validly exercised in the first eligible year within time, it applies to subsequent assessment years and cannot be withdrawn. On the facts, the assessee had already exercised the option in the preceding year, so the concessional regime continued for the year under consideration. The benefit could not be denied merely because the original return for that year was later treated as invalid under section 139(9), as that technical defect did not convert the year into a fresh first-year exercise of option.
Section 115BAB gives a new manufacturing domestic company's option continuing effect: once validly exercised in the first eligible year within time, it applies to subsequent assessment years and cannot be withdrawn. On the facts, the assessee had already exercised the option in the preceding year, so the concessional regime continued for the year under consideration. The benefit could not be denied merely because the original return for that year was later treated as invalid under section 139(9), as that technical defect did not convert the year into a fresh first-year exercise of option.
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