Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
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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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