Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Disallowance under section 14A cannot exceed the exempt income earned in the relevant year, so a higher Rule 8D disallowance was not sustainable where the assessee had already made a suo motu disallowance. The Tribunal upheld restriction of the disallowance to the amount already offered by the assessee. On CSR-related donations, it held that Explanation 2 to section 37(1) only denies CSR expenditure as business deduction and does not bar a separate deduction under section 80G if the statutory conditions are met. Approved donee status and banking-channel payments supported the claim, so the deduction was upheld.
Disallowance under section 14A cannot exceed the exempt income earned in the relevant year, so a higher Rule 8D disallowance was not sustainable where the assessee had already made a suo motu disallowance. The Tribunal upheld restriction of the disallowance to the amount already offered by the assessee. On CSR-related donations, it held that Explanation 2 to section 37(1) only denies CSR expenditure as business deduction and does not bar a separate deduction under section 80G if the statutory conditions are met. Approved donee status and banking-channel payments supported the claim, so the deduction was upheld.
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