Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Foreign exchange loss on FCCBs was treated as revenue in nature because the borrowing was for business purposes and not shown to relate to acquisition of capital assets; the disallowance of amortised forex loss was deleted. The corresponding increase in book profit under section 115JB also failed once the underlying addition was removed. Delayed employees' contribution to PF and ESI remained disallowable under section 36(1)(va) despite payment before the section 139(1) due date. In reassessment, the Tribunal held that a fresh addition for the same forex loss amounted to double taxation and deleted it.
Foreign exchange loss on FCCBs was treated as revenue in nature because the borrowing was for business purposes and not shown to relate to acquisition of capital assets; the disallowance of amortised forex loss was deleted. The corresponding increase in book profit under section 115JB also failed once the underlying addition was removed. Delayed employees' contribution to PF and ESI remained disallowable under section 36(1)(va) despite payment before the section 139(1) due date. In reassessment, the Tribunal held that a fresh addition for the same forex loss amounted to double taxation and deleted it.
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