https://www.taxtmi.com/caselaws?id=300668 Where dividend income was earned from investments made out of interest-free funds, the related disallowance of interest expenditure could not survive, and the Tribunal treated its earlier contrary reference as an apparent mistake and directed allowance of the expenditure. On the sales tax incentive and fertilizer subsidy issue, the Tribunal found that the earlier order had not actually adjudicated whether the receipts were capital or revenue in nature; because that question went to taxability and remained undecided, the matter was recalled for fresh hearing and restored for de novo consideration. The principle stated is that rectification or recall is warranted when a material issue affecting taxability has been overlooked or left undecided. en-us Fri, 17 Sep 2021 00:00:00 +0530 Fri, 18 Feb 2022 07:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300668 Where dividend income was earned from investments made out of interest-free funds, the related disallowance of interest expenditure could not survive, and the Tribunal treated its earlier contrary reference as an apparent mistake and directed allowance of the expenditure. On the sales tax incentive and fertilizer subsidy issue, the Tribunal found that the earlier order had not actually adjudicated whether the receipts were capital or revenue in nature; because that question went to taxability and remained undecided, the matter was recalled for fresh hearing and restored for de novo consideration. The principle stated is that rectification or recall is warranted when a material issue affecting taxability has been overlooked or left undecided. Case-Laws Income Tax Fri, 17 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300668