Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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ITAT rejected the Revenue's Rule 46A objection because the EPCG licence documents and computation were already part of the record before the Assessing Officer, and no fresh evidence had been admitted by the first appellate authority. It further upheld deletion of the addition relating to the Government grant, holding that the amount had been credited in the books under Ind-AS-compliant accounting, was tax neutral for income-tax purposes, and had already been included in the returned total income. A further addition would therefore result in double addition. The Revenue's appeal was dismissed.
ITAT rejected the Revenue's Rule 46A objection because the EPCG licence documents and computation were already part of the record before the Assessing Officer, and no fresh evidence had been admitted by the first appellate authority. It further upheld deletion of the addition relating to the Government grant, holding that the amount had been credited in the books under Ind-AS-compliant accounting, was tax neutral for income-tax purposes, and had already been included in the returned total income. A further addition would therefore result in double addition. The Revenue's appeal was dismissed.
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